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"North American activity is holding in pretty well. That's continuing to buoy the Canadian currency."
- Jeremy Stretch, Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
USD/CAD depreciated today neglecting almost of all hopes of fast recovery of the pair in the near future. However as outlook on the pair remains positive in the medium term it is likely the pair will tingle around 0.99 and start recovering in the next week.
Traders' Sentiment
As yesterday, majority of traders (70%) of have long positions open on the pair anticipating the recovery of the pair. However, in the 100-pip range from the current market price, allocation of pending orders is completely opposite - 70% of traders have posted sell orders on the pair.
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