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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 sits +1.05% at 1.2694 as high beta G10 currencies have suffered after risk sentiment has continued to sour since the ECB rate decision.
- It tests resistance seen at the Jun 2 high of 1.2686, with a further run potentially opening the 20-day EMA of 1.2706 and with next key resistance not eyed until 1.2896 (May 18 high).
- Canadian rates have significantly outperformed their US counterparts as Macklem didn’t build on already very hawkish BoC commentary, disappointing stretched pricing.
- However, Can-US yield differentials remains historically elevated and CAD has performed between NZD and AUD today, suggesting the move is more closely tied to risk-off sentiment than other fundamentals.
- Two important drivers tomorrow with the US CPI and Canadian employment reports.
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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