Canada Expects to Cut Interest, USD/CAD May Drop

WikiFX News (12 July), Bank of Canada(BOC) expects to cut interest rate continuously. So retail investors should pay attention to a bearish USD/CAD.

The market estimated that BOC may keep reducing the interest rate from the late April. And the CAD got better supported by the surge in global stock and energy market. Market estimates that BOC has one percent chance to lower interest rate by 25 basic points.

In terms of USD/CAD, the latest retail investor sentiment report manifests that the recent net long positions account for 54.34%, with a long-short ratio of 1.19:1. From the opposite perspective of retail sentiment, bullish retail investors mean USD/CAD may keep dropping.

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