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
    1.3477-0.0007-0.05%
    USDSGD=X
    1.5115+0.008+0.53%
    EURSGD=X
    2.0631-0.0058-0.28%
    GBPSGD=X
    92.2819+0.2617+0.28%
    SGDJPY=X
    5.7532+0.0013+0.02%
    SGDHKD=X
    2.7375+0.0116+0.42%
    SGDMYR=X
    9,818.7988+37.1973+0.38%
    SGDIDR=X
    4.6017+0.0065+0.14%
    SGDCNY=X
    1.0491+0.0011+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,190.30-4.10-0.34%
    GCQ15.CMX
    16.58-0.22-1.30%
    SIN15.CMX
    70.08-0.45-0.63%
    ^XAU
    2.730.00-0.13%
    HGN15.CMX
    60.39-0.87-1.42%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65+0.10
    ^FVX
    2.32+0.13
    ^TNX
    3.06+0.11
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    4.07+0.09+2.26%
    Z74.SI
    0.72-0.02-3.36%
    N21.SI
    0.31+0.02+6.90%
    AFC.SI
    0.290.000.00%
    5WA.SI
    0.210.00+2.44%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.39+0.10+34.48%
    Y06.SI
    0.30+0.05+20.00%
    S71.SI
    0.188+0.028+17.50%
    5PI.SI
    0.119+0.017+16.67%
    5I1.SI
    0.205+0.025+13.89%
    5UF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.01-0.31-23.48%
    AYO.SI
    0.23-0.05-17.86%
    5HJ.SI
    0.093-0.014-13.08%
    T09.SI
    0.136-0.019-12.26%
    5F4.SI
    0.163-0.019-10.44%
    AVY.SI