The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' - as the Canadian Dollar is known - is affected by oil prices because of Canada's energy exports.
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IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.67%, while traders in France 40 are at opposite extremes with 85.60%.
See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KnXJPN0iq9
#Oil started this week with a bang after a number a disruption of production in Saudi Arabia following this weekend’s drone attacks.. Get your crude oil #technicalanalysis from @JStanleyFX here: https://t.co/uAw5kJTrfO #OOTT https://t.co/JGydFfVPNK
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