© Dukascopy Bank SA
"If banks are colluding with information about their overall fix positions then this is a serious concern."
- Bank of Canada report (Based on Bloomberg)
Pair's Outlook
The pair has consolidated around 1.1100 level, after yesterday's slight decline, when it fell below this major level. Throughout this week we have seen a sideway trend, but we expect that the pair will gain bullish momentum and approach weekly R1 and Bollinger bands at around 1.1153. Bulk of the weekly technical indicators are suggesting that the greenback will appreciate against the loonie.
Traders' Sentiment
There are slightly more people (72%) than yesterday (70%) considering that the U.S. Dollar is going to appreciate versus its Canadian counterpart. Concerning the orders, commands to buy have remained at basically the same level as yesterday (48%).
© Dukascopy Bank SA