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    USD/CAD touches 1.2916 mark on Thursday

    © Dukascopy Bank SA
    "The US Dollar has failed to weaken as markets pushed back rate hike expectations to 2018. US Dollar weakness and Canadian Dollar strength played the main role in the drop of USD/CAD by ~15%."  
    - Tyler Yell, CMT (based on Daily FX) 


    Pair's Outlook 
    The USD/CAD pair is moving lower, as the US Dollar weakens, and the Canadian Dollar gains strength. The pair was volatile during Wednesday's session, as at one moment it even passed the 1.30 mark, however, the currency exchange rate ended the session at the level of 1.2963. Amidst the middle of the Thursday session, the pair is moving lower, and, at the moment, the pair is trading at 1.2929 by 10:45 GMT. In the meantime, daily aggregate technical indicators forecast a surge for today. 

    Traders' Sentiment 
    SWFX traders have shifted their sentiment and become bullish on the pair, as 52% of open positions are long on Thursday, compared to 46% on Wednesday However, pending orders in the 100-pip range are 53% long.
    © Dukascopy Bank SA

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