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
    1.3627-0.0028-0.21%
    USDSGD=X
    1.5251-0.0019-0.12%
    EURSGD=X
    2.0965-0.0012-0.06%
    GBPSGD=X
    87.7229-0.2706-0.31%
    SGDJPY=X
    5.6912+0.0117+0.21%
    SGDHKD=X
    2.6645+0.0053+0.20%
    SGDMYR=X
    9,521.0889+3.6855+0.04%
    SGDIDR=X
    4.6031+0.0091+0.20%
    SGDCNY=X
    1.0675+0.0079+0.74%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    75.78+0.53+0.70%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.580.00
    ^FVX
    2.080.00
    ^TNX
    2.680.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.415+0.015+3.75%
    E5H.SI
    100.012-0.0020.00%
    41H.SI
    1.01+0.06+6.88%
    N21.SI
    0.06-0.06-48.72%
    F3V.SI
    0.280.000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.03+15.79%
    5RE.SI
    0.167+0.021+14.38%
    5OU.SI
    0.18+0.02+12.50%
    PH0.SI
    0.114+0.008+7.55%
    G31.SI
    0.179+0.012+7.19%
    T19.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.06-0.06-48.72%
    F3V.SI
    0.19-0.06-22.45%
    5TS.SI
    0.141-0.019-11.87%
    C3T.SI
    0.157-0.018-10.29%
    K6J.SI
    0.30-0.03-9.09%
    5VI.SI