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
    1.3677-0.0033-0.24%
    USDSGD=X
    1.4936+0.0029+0.19%
    EURSGD=X
    2.0380+0.0026+0.13%
    GBPSGD=X
    87.1266+0.1536+0.18%
    SGDJPY=X
    5.6696+0.0137+0.24%
    SGDHKD=X
    2.6864+0.0115+0.43%
    SGDMYR=X
    9,552.4150+50.2246+0.53%
    SGDIDR=X
    4.5453+0.0154+0.34%
    SGDCNY=X
    1.0625-0.0103-0.96%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,199.00-5.80-0.48%
    GCJ15.CMX
    17.07-0.07-0.44%
    SIK15.CMX
    68.05-0.34-0.50%
    ^XAU
    2.77-0.05-1.60%
    HGK15.CMX
    50.04-1.39-2.70%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.42-0.05
    ^FVX
    1.96-0.05
    ^TNX
    2.54-0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.435+0.030+7.41%
    E5H.SI
    0.131+0.015+12.93%
    E13.SI
    0.167+0.004+2.45%
    5GB.SI
    0.285-0.005-1.72%
    5WA.SI
    0.945+0.015+1.61%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.31+0.08+34.78%
    5PD.SI
    0.131+0.015+12.93%
    E13.SI
    0.255+0.025+10.87%
    D79.SI
    0.39+0.03+9.86%
    D03.SI
    0.435+0.030+7.41%
    E5H.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.135-0.007-4.93%
    K14.SI
    1.862-0.095-4.85%
    O9D.SI
    0.515-0.025-4.63%
    R07.SI
    0.22-0.01-4.35%
    M14.SI
    0.225-0.010-4.26%
    DU4.SI