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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA
- USDCAD sits -0.96% at 1.2765 off an earlier low of 1.2751 having comfortably cleared support at 1.2818 (Aug 4 low) and more tentatively 1.2767/63 (Aug 1/June 13 lows).
- A sustained clearance would strengthen technical bearish conditions and open 1.2685 (76.4% retracement of the Jun 8 – Jul 14 upleg), whilst 1mth risk reversal falls to lowest since Jun 10 at 1.045.
- CAD again underperforms other majors on the day though, seeing little support from crude oil currently edging higher for the day after whipsawing through the session.
- Rather, declines in the pair are likely limited by Can-US yield differentials at or extending to new recent lows with 2Y at -1bp and 10Y at -11bps.
USDCAD spot (white) and 1m 25D risk reversal (yellow)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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