USD/CAD Continues to Edge Lower for the Third Consecutive Session Today

USD/CAD Hourly (H1) Chart
USD/CAD Hourly (H1) Chart

USD/CAD: The pair is continuing to edge lower for the third consecutive session today as USD continues to weaken sharply in the global market. Further, risk sentiment led by talks surrounding US and EU stimulus package also helped improve crude oil demand outlook adding support to CAD bulls, and this caused the price to fall below the 1.345 mark in trading session today. Traders now await US macro data – API weekly stockpile report and Canadian macro data for short term profit opportunities. 

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