The 10 year yield moves to 7 month high
The 10 year Canadian yield has moved to the highest level in 7 months at 1.719%. That, along with higher oil and CPI which was as expected but may be looking higher, has helped to straighten the CAD.
Technicals are also helping.
As per and earlier report, the 1.31148 was the low price from November and again earlier this week. Today, the price initially found support against that level, but the pressure has continued and the price now trades below that key floor area. Stay below keeps the bears in control.
Below is the 10 year yield chart. The yield moved above its 200 day moving average earlier in the month and has remained above that level over the last 9 or so trading days. Today, the yield moved above the 38.2% retracement 1.664%.
