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
    1.3689-0.0002-0.01%
    USDSGD=X
    1.5031+0.0001+0.01%
    EURSGD=X
    2.1353-0.0004-0.02%
    GBPSGD=X
    90.5727+0.00260.00%
    SGDJPY=X
    5.6626+0.0006+0.01%
    SGDHKD=X
    2.7861+0.0003+0.01%
    SGDMYR=X
    9,854.6299+1.0791+0.01%
    SGDIDR=X
    4.5356+0.0009+0.02%
    SGDCNY=X
    0.9979-0.0002-0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,096.20-0.40-0.04%
    GCQ15.CMX
    14.78+0.14+0.94%
    SIU15.CMX
    48.37+0.90+1.91%
    ^XAU
    2.41+0.01+0.31%
    HGU15.CMX
    48.89+0.91+1.90%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61+0.02
    ^FVX
    2.28+0.03
    ^TNX
    2.99+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.3150.0000.00%
    5WA.SI
    0.136-0.005-3.55%
    5DN.SI
    0.325-0.015-4.41%
    E5H.SI
    0.88+0.05+6.02%
    5ME.SI
    0.37+0.04+12.12%
    Y35.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.36+0.06+18.03%
    UD2.SI
    0.134+0.018+15.52%
    40F.SI
    0.50+0.06+12.36%
    BAZ.SI
    0.37+0.04+12.12%
    Y35.SI
    1.12+0.12+12.00%
    AXL.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.23-0.05-17.86%
    AWS.SI
    0.24-0.05-17.24%
    E94.SI
    0.30-0.03-10.45%
    B49.SI
    0.127-0.012-8.63%
    5WH.SI
    0.14-0.01-7.89%
    583.SI