"The FOMC minutes were clear that officials are contemplating beginning to address the balance sheet."
— Marc Chandler, Brown Brothers Harriman (based on investing.com)
Pair's Outlook
The Greenback showed some volatility against the Canadian Dollar during the first half of Thursday's trading session. However, by the middle of the day the USD/CAD currency exchange rate remained unchanged near the 1.3440 level. Although, in the recent three consecutive trading sessions the Buck has shown that it is set to surge against the Loonie. In that case the rate would surge up to the strong resistance cluster above it, near the 1.3480 mark. The cluster is most likely not going to be broken, as it is made up of four various resistance levels, which will not give in easily.
Traders' Sentiment
SWFX traders remain bearish, as 54% of open positions are short on Thursday. However, 54% of trader set up orders are to buy.
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