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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 at 1.345 continues to hold the 1.342-1.35 range seen in recent days ahead of today’s BoC decision. CAD reverses yesterday’s outperformance, underperforming all majors bar the USD.
- Support is seen at 1.342 (20-day EMA) but the shallow pullback is considered corrective with resistance seen at 1.3542 (Jan 17 high).
- The announcement comes at the new time of 0945ET with both the decision statement and now also the press release opening statement released then along with the MPR.
- One important area will be to what extent the BoC sees the recent resurgence in its preferred core inflation metrics as “bumps along the way” in a path back towards the 2% inflation target. Preview: https://roar-assets-auto.rbl.ms/files/59603/BOCPreviewJan2024.pdf
USDCAD 20-day EMA in green lineSource: 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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