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Late Equity Roundup: Mildly Lower on Week

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Remains Above The 50-Day EMA

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Wednesday afternoon saw comments......>

DOLLAR-CANADA
DOLLAR-CANADA: Wednesday afternoon saw comments from Mexican EcoMin Guajardo, as
he noted that he believes that there is a "high chance" of a U.S.-Canada trade
deal. This allowed USD/CAD to fall to C$1.2981, despite RTRS source reports
suggesting that the best possible outcome is a deal in principle next week, as
the commodity linked FX space was supported by upbeat headlines surrounding
U.S.-China trade talks. Firmer oil prices also aided CAD on Weds.
- Overnight remarks from Canadian ForMin Freeland show that she will not return
to discussions with U.S. TR Lighthizer until Canadian & U.S. off'ls have
conducted further work which leaves USD/CAD at C$1.3015 last.
- A rise back above the 50-DMA (C$1.3085) is needed to return the focus to the
upside and keep the bigger picture positive trend intact. The close below the
21-DMA has allowed bears to target the 200-DMA and channel base support at
(C$1.2860/46).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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