Free Trial

USDCAD With Bearish Outlook Ahead Of Data

CANADA
  • USDCAD ticks higher from the middle of a fairly narrow 65pip range, currently 1.34 (almost unch) with CAD seeing modest outperformance against most majors.
  • A broad-based dip for weekly Nanos consumer confidence after six consecutive gains had little impact. Upcoming releases more likely impactful though, with mfg sales and existing home sales before the quarterly BoC surveys flagged earlier.
  • Technicals see a short-term bearish outlook with support at 1.3322 (Jan 13 low) whilst resistance is seen at 1.3511 (50-day EMA).

To read the full story

Close

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.