MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD Testing Supports, But Without Much Conviction For Now

CANADA
  • USDCAD briefly dipped back to 1.3315/1.3316 for the second time today being lifting 15 pips, probing Friday’s low of 1.3313 that had pushed through Wednesday’s post-BOC 1.3322.
  • Further progress could be slow here with a key support seen at 1.3302 (Apr 14 low) required to be cleared to strengthen bearish conditions.
  • Friday’s CFTC positioning showed some volatility in CAD net shorts albeit only to Tue before the BoC’s hawkish surprise, falling back to -22.8% OI from -16.6% the week prior and -30.5% before that.
  • Post BoC, analysts see favorable CAD conditions more broadly. This from GS: “Overall, while market pricing is fairly full, additional BoC hikes should still support CAD. As we’ve flagged, short EUR/CAD and long CAD/JPY look like the best expressions to capture a more hawkish BoC combined with a stronger Dollar, though long CAD/JPY leans slightly more pro-growth.”
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

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.