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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.
CANADA
- USDCAD has extended to new session lows of 1.3375 (-1.2%), below 1.34 for the first time since Apr 19, as CAD closes in on NOK for top G10 FX performer on the day with WTI +4%, equities at session highs with the S&P 500 +2% and after an on balance strong labour report even if full-time job creation offered a marginally softer twist within the details.
- The pair has pushed through support at 1.3385 (Apr 19 low) and a continuation lower could ultimately see focus on 1.3302 (Apr 14 low).
- In FI space, GoCs have extended underperformance to Tsys, with 2YY +15.5bps vs +12.5bps, 10YY +12bps vs +6.5bps, for levels back close to where they were on May 2 prior to a spillover from a weak US JOLTS report and the resumption of US regional bank concerns.
- Next week sees a limited local docket although there is Canada’s own Senior Loan Officer Survey on May 12, with US CPI (May 10) and the Fed’s SLOOS (May 8) most notable in a busy week.
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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