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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 sits within yesterday’s range at 1.2937, a ~1% retracement from Tuesday’s high of 1.3063.
- That retracement masks MA studies in a bull mode condition, but there is wiggle room in either direction with Powell eyed, with firm support at the 50-day EMA of 1.2887 and initial resistance at 1.2976 (yesterday high).
- WTI staging a limited recovery from yesterday’s drop only helps CAD at the margin, with correlation continuing to fade in absolute terms on a 20-day rolling basis to just -0.23 as broader dollar moves win out, whilst front end Can-US yield differentials remain relatively elevated for the past month but within ranges from the past three at +14bps.
USDCAD (white) and 2Y Can-US yield differential (blue)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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