Bubor rate (%) | (1D change) | |
O/N | 7.32 | (0 bps) |
1M | 7.82 | (1 bps) |
3M | 8.48 | (3 bps) |
6M | 9.17 | (8 bps) |
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USDCAD maintains a softer tone and the pair traded lower again Friday. Price has arrived at 1.2562, the 76.4% retracement of the Apr 5 - May 12 uptrend. A clear breach of the level would strengthen current bearish conditions and pave the way for weakness towards 1.2459, Apr 21 low and potentially 1.2403, the Apr 5 low and a key support. Key resistance is seen at 1.2755, the 20-day EMA.
AUDUSD traded higher Thursday before fading slightly through the Friday session. Thursday's rally resulted in a break of key resistance at 0.7266, the May 4/5 high. This strengthens bullish conditions and signal scope for a move towards 0.7343, a Fibonacci retracement. Note that the current bull cycle is still considered corrective. A reversal lower would refocus attention on the bear trigger at 0.6829, May 12 low. Initial firm support to watch is at 0.7036.
Tsys futures trade weaker, off lows to near middle of session range on light volumes for a headline payroll session, TYU2 less than 950k after the bell. Tsys gapped lower following May NFP gain of +390k vs. +310k est, 30YY climbs to 3.1554% high, while yield curves steepened out briefly.