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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 sees an outsized gain as Treasury yields push higher after a short-lived decline on the ISM manufacturing report whilst equity futures hit session lows.
- At 1.3735, it tests overnight Thu/Fri highs for initial resistance before 1.3792 (Jun 11 high).
- Latest CFTC data show that, for futures positioning at least, CAD net shorts built even further early last week despite the stronger than expected May CPI report. Net shorts at 44% of open interest (following two weeks at 42% after the BoC’s first cut of the cycle) are the largest since mid-2017 and before that 2013.
- It's increasingly at odds with other high beta peers in AUD and NZD - see chart.
- Tomorrow sees a quieter post-holiday local docket with Fed Chair Powell and US JOLTS likely in the driving seat instead.
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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