FOREX ANALYSIS: Canadian Dollar Trading Outlook Bullish

ssi_usd-cad_body_Picture_12.png, FOREX ANALYSIS: Canadian Dollar Trading Outlook Bullish

USDCAD Retail forex trading crowds have remained steadily net-long the US Dollar (ticker: USDOLLAR) versus the Canadian Dollar since it crossed below the C$0.9900 in October, and consistent sentiment leaves us in favor of USDCAD declines.

We have seen a modest pullback in USD longs—down 18 percent since last week. Yet we will need to see a more substantive shift before we turn in favor of US Dollar strength.

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

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3447-0.001-0.08%
    USDSGD=X
    1.5017-0.0104-0.68%
    EURSGD=X
    2.1140-0.0037-0.18%
    GBPSGD=X
    90.7817-0.294-0.32%
    SGDJPY=X
    5.7649+0.0042+0.07%
    SGDHKD=X
    2.8087+0.005+0.18%
    SGDMYR=X
    9,915.1836+0.6289+0.01%
    SGDIDR=X
    4.6116-0.0028-0.06%
    SGDCNY=X
    1.0321-0.0011-0.11%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,174.20-4.80-0.41%
    GCQ15.CMX
    15.66-0.03-0.22%
    SIU15.CMX
    63.91-0.77-1.19%
    ^XAU
    2.60-0.03-1.22%
    HGU15.CMX
    58.49+0.16+0.27%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.62-0.13
    ^FVX
    2.33-0.15
    ^TNX
    3.10-0.15
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.76+0.04+5.56%
    N21.SI
    0.295-0.005-1.67%
    5WA.SI
    0.195+0.004+2.09%
    5GB.SI
    4.21+0.08+1.94%
    Z74.SI
    0.895-0.005-0.56%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.21+0.04+27.27%
    5OY.SI
    0.355+0.050+16.39%
    UQ4.SI
    0.30+0.04+15.38%
    Y06.SI
    0.38+0.04+13.43%
    508.SI
    0.55+0.06+12.24%
    AWK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.05-20.83%
    40U.SI
    0.24-0.05-17.24%
    MR8.SI
    0.11-0.02-15.38%
    RS1.SI
    0.129-0.020-13.42%
    5MD.SI
    0.98-0.14-12.50%
    5CP.SI