FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-cad_body_Picture_9.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCADRetail forex traders continue to sell the US Dollar (ticker: USDOLLAR) versus the Canadian Dollar, and we see further risks of short-term declines. In fact, traders most recently turned long USDCAD as it crossed below C$0.9900 in October, and long interest is up a further 6 percent since last week while shorts have fallen 20 percent. We see little reason to go against our consistently bearish USDCAD trading bias.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2579+0.0021+0.16%
    USDSGD=X
    1.7393+0.0057+0.33%
    EURSGD=X
    2.1115-0.0014-0.07%
    GBPSGD=X
    81.3849-0.3158-0.39%
    SGDJPY=X
    6.1639-0.0098-0.16%
    SGDHKD=X
    2.5961-0.0054-0.21%
    SGDMYR=X
    9,202.2109+28.8838+0.31%
    SGDIDR=X
    4.9612-0.006-0.12%
    SGDCNY=X
    1.1661-0.01-0.85%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,284.60+3.50+0.27%
    GCM14.CMX
    19.45+0.09+0.46%
    SIK14.CMX
    91.05
    ^XAU
    3.04-0.01-0.33%
    HGK14.CMX
    101.60-0.15-0.15%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71
    ^FVX
    2.70
    ^TNX
    3.48
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.122+0.002+1.67%
    B22.SI
    0.61+0.005+0.83%
    E5H.SI
    2.22+0.010+0.45%
    JS8.SI
    0.16+0.002+1.27%
    5GB.SI
    0.142-0.003-2.07%
    545.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.031+15.58%
    5UZ.SI
    0.22+0.020+10.00%
    D6U.SI
    0.184+0.014+8.24%
    5WD.SI
    0.275+0.020+7.84%
    5TP.SI
    0.161+0.011+7.33%
    A03.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.245-0.055-18.33%
    T18.SI
    0.196-0.024-10.91%
    5WR.SI
    0.161-0.019-10.56%
    T16.SI
    0.36-0.040-10.00%
    S24.SI
    0.098-0.010-9.26%
    C11.SI