© Dukascopy Bank SA
- The National Bank of Canada (based on investing.com)
Pair's Outlook
The US Dollar continued to lose ground against the Canadian Dollar by mid-Thursday, as the currency exchange rate traded just above the weekly PP at 1.3370. Previously, on Wednesday the currency exchange rate remained almost unchanged by the end of the day. However, it was fluctuating between the levels of 1.3359 and 1.3424. It might seem that the rate will remain unchanged by the end of the day. Although, it has been more volatile to the downside, as the Loonie attempts to gain more against the Greenback.
Traders' Sentiment
Traders remain bearish on the pair, as 61% of open SWFX positions were short on Thursday. Meanwhile, trader set up orders were neutral.
© Dukascopy Bank SA