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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
- After keeping to a narrow range, USDCAD now sits -0.3% at 1.2739 to clear yesterday’s post US CPI low of 1.2751.
- The move comes from higher oil prices plus earlier support from E-mini S&P drifting higher, with both factors seeing increasing correlation on a 20-day rolling basis (-0.5 WTI, -0.7 ESA).
- It paves the way for a bearish extension as it tests the 200-dma at 1.2742, below which sits further support at 1.2685 (76.4% retrace of Jun 8 – Jul 14 upleg).
- CAD once again underperforms other majors on the day though, potentially as a result of closer US linkages following CPI and PPI misses.
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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