© Dukascopy Bank SA
"The problem is that policy would be set ex ante Quebec's more traditional economy and more centred on Alberta's energy-dependent economy, that is unlikely to favour Quebec."
- Societe Generale (based on The Globe and Mail)
Pair's Outlook
As the 1.1100 has been broken today the pair fell further and reached monthly PP at 1.1053. Although it probably should not depreciate much more and it might find a resistance at around weekly S1 at 1.0990. At the moment USD/CAD remains in an uptrend and we expect that it will appreciate towards monthly R1.
Traders' Sentiment
This week the sentiment among the SWFX market participants has remained basically unchanged as 70% hold long positions. Concerning the orders, there are now significantly more commands to sell – 53% compared to yesterday's 74%.
© Dukascopy Bank SA