It has only been a month and a half since we last looked at both the USDCAD relationship and the CBOE 30 Yr Interest Rate but there have been some changes since we last looked, so for this week's SIA Equity Leaders Weekly we are going to look back on both of these and see what has happened recently.
United States Dollar/Canadian Dollar (USDCAD)
Looking at the chart we can see that the USDCAD has had a rather sizable pullback recently and is closing in on the support level at $1.1752. Should we see the weakness continue then the next support down at $1.1182 could come into play.
With the recent weakness we have also seen a rise in both Oil and Gold Prices, so a turnaround in the USDCAD could prove to be negative for those following these Commodities.
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CBOE Interest Rate 30 - YR (TYX.I)
When we last looked at the TYX.I it was sitting on the support level down at 2.442%. As we can see from the chart, the TYX.I has subsequently bounced off that level (likely making this level even stronger next time) and has run up to the resistance at 3.097%. Further strength could see the resistance at 3.419% come in to play.
What is interesting is that the SMAX is now at a 10, showing short term strength across all the asset classes.
Both of these charts continue to give us relevant information that we need to monitor in order to make important decisions for our clients.
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