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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 trades +0.3% at 1.2921 with broad USD strength after a relatively restrained US session and overnight but still well within the week’s range.
- It moves away from the 50-day EMA at 1.2859 that it fleetingly cleared yesterday, a clear break of which would open the key support at 1.2819 (Jun 28 low) required to signal a deeper move to the drop that has been considered a corrective pullback of a bullish trend – resistance seen at 1.3166 (3.0% upper Bollinger band).
- Relatively neutral positioning as of just prior to US CPI and the BoC decision last week (CFTC net longs +2.5% OI) have helped the pair swing, with a wide range of 1.2855-1.3224 since then, and it could continue to do so with risk sentiment with the ECB shortly.
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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