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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 is holding around the 1.29 mark with oil down almost -5% from renewed expectations of the Iran nuclear deal being revived adding to an already soft undertone from weaker than expected China data.
- At 1.2899 (+0.9%), it has cleared resistance at the 20-day EMA (1.2855) and sharply reversed the post US CPI slide, opening 1.2985 (Aug 5 high) from the snap reaction higher following stellar US payrolls.
- Growing negative correlation to oil (-0.54 on 20-day rolling) helps drive large moves but CAD outperforms AUD and NZD. Continued net bullish sentiment for CAD, with CFTC spec net longs increasing to a fresh post-Jul’21 high of 14.8% OI as of Tue, might help but is equally likely some payback after underperforming last 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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