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
    1.3786+0.0007+0.05%
    USDSGD=X
    1.5354+0.0018+0.12%
    EURSGD=X
    1.9940-0.0014-0.07%
    GBPSGD=X
    79.6763-0.6894-0.86%
    SGDJPY=X
    5.6349-0.0051-0.09%
    SGDHKD=X
    3.0135+0.025+0.84%
    SGDMYR=X
    9,930.0762+25.8701+0.26%
    SGDIDR=X
    4.7815+0.0049+0.10%
    SGDCNY=X
    1.0011+0.0046+0.47%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,219.00+1.50+0.12%
    GCQ16.CMX
    16.02+0.03+0.19%
    SIN16.CMX
    80.58+1.17+1.47%
    ^XAU
    2.06-0.03-1.55%
    HGN16.CMX
    48.62-0.48-0.98%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.36-0.03
    ^FVX
    1.83-0.02
    ^TNX
    2.63-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.285-0.010-3.39%
    N21.SI
    3.870.000.00%
    Z74.SI
    0.75+0.01+1.35%
    G13.SI
    0.375-0.015-3.85%
    E5H.SI
    1.785-0.025-1.38%
    MC0.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.475+0.165+12.60%
    Y03.SI
    0.30+0.03+9.09%
    5VP.SI
    0.56+0.05+8.74%
    L17.SI
    0.148+0.011+8.03%
    42G.SI
    0.11+0.01+7.84%
    AVX.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.03-13.04%
    D6U.SI
    0.23-0.02-9.80%
    PA3.SI
    0.44-0.03-6.38%
    573.SI
    0.825-0.055-6.25%
    G41.SI
    0.235-0.015-6.00%
    BLW.SI