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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2574-0.0007-0.05%
    USDSGD=X
    1.7400-0.0001-0.01%
    EURSGD=X
    2.1127-0.0011-0.05%
    GBPSGD=X
    81.3229+0.0308+0.04%
    SGDJPY=X
    6.1660+0.0034+0.05%
    SGDHKD=X
    2.6045+0.0062+0.24%
    SGDMYR=X
    9,242.7363-13.29-0.14%
    SGDIDR=X
    4.9726+0.0056+0.11%
    SGDCNY=X
    1.1659+0.0006+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,293.30+2.70+0.21%
    GCM14.CMX
    19.59-0.09-0.47%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.11-0.01-0.21%
    HGK14.CMX
    101.54-0.40-0.39%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    2.22+0.010+0.45%
    JS8.SI
    1.16+0.010+0.87%
    U6C.SI
    0.121-0.002-1.63%
    B22.SI
    1.335-0.020-1.48%
    G13.SI
    1.22+0.005+0.41%
    S53.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.167+0.015+9.87%
    5HH.SI
    0.21+0.020+10.53%
    F86.SI
    0.116+0.010+9.43%
    O2I.SI
    0.72+0.050+7.46%
    5DP.SI
    1.315+0.084+6.82%
    O9A.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.013-8.44%
    5GD.SI
    0.151-0.009-5.63%
    A03.SI
    0.30-0.015-4.76%
    K29.SI
    1.055-0.045-4.09%
    T14.SI
    0.22-0.005-2.22%
    5UZ.SI