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– Bloomberg
Pair's Outlook
The US Dollar depreciated against the Canadian Dollar by mid-day on Thursday, as the currency exchange rate reached below the 1.34 level during the first half of the day's trading session. Previously, during Wednesday's trading the rate reached even further below. However, the currency pair rebounded and ended the day six pips higher than the opening price. It is most likely that the Greenback will continue to depreciate against the Loonie and book even more loses.
Traders' Sentiment
SWFX traders remain long, as 56% of open positions were bullish by mid-Thursday. Meanwhile, trader set up orders were also bullish, as 44% of pending commands were to buy the US Dollar.
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