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"Dollar/Canada is kind of settling comfortably to where it's been on average for most of the week here heading into the inflation numbers and we should take a minor queue from it."
-BMO Capital Markets (based on Reuters)
Pair's Outlook
After a week of mild gains pair rebounded from monthly pivot at 0.9769. Despite the signals of technical indicators, this should be just a temporary setback and pair should resume it's recovery after receiving a push from 0.9712.
Traders' Sentiment
USD is the second, right after SEK, most bought currency across the board—in 66% of all cases. CAD is the second, right after NZD, most sold currency—in 72% of all cases. Gap between bulls and bears i8s the same as yesterday—75% of all positions are long at the moment. Amount of pending buy orders has not changed a bit as well- 63% of all posted orders.
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