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"The big one out there is definitely the FOMC minutes. In the very near term, the next one to two weeks, you're likely to see a continuation of this risk-on environment, which means further appreciation of the Canadian dollar."
-David Doyle, Macquirie Capital Markets (based on Bloomberg)
Pair's Outlook
Although short term outlook remains negative pair is likely to remain above weekly PP at 0.9885. however, the should not have enough juice to breach weekly R1 at 0.9931 and it likely to remain in between the two levels around 0.9915.
Traders' Sentiment
Trader sentiment remains bullish slightly above 70% mark for a week now. Amounts of buy orders has increased by 3% since yesterdays and has reached a 65% gauge. This suggests that market participants are still waiting for the pair to breach some key level.
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