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– Philip Petursson, Manulife Investments (based on Reuters)
Pair's Outlook
The US Dollar continued to climb against the Canadian Dollar by mid-day on Thursday, as the currency exchange rate broke once more past the weekly R1 at 1.3463. Previously, on Wednesday the currency exchange rate experienced high volatility to the upside, as the markets woke up from the Trump victory hysteria, and the US Dollar began to strengthen. However, the currency pair did not remain at the reached high level of 1.3525 and retreated by the end of the day only to continue the surge later on.
Traders' Sentiment
Traders have not changed their outlook on the pair, as 52% of open SWFX positions remain short. Meanwhile, 51% of trader set up orders are to buy the Loonie.
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