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Canadian Dollar Forecast to Rally Against US Dollar
Thursday, 04 September 2008 14:59:01 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CAD Ratio: 1.84
Trading Signal: Bearish

Forex Positioning for the US Dollar/Canadian Dollar

 

Currency Last Week Present* % Long % Change in Positions Outstanding Signal
USDCAD 1.89 1.84 64% -26.75% Bearish

SSI5_09_04_08

USDCAD – The ratio of long to short positions in the USDCAD stands at 1.81 as nearly 64% of traders are long. Yesterday, the ratio was at 1.55 as 61% of open positions were long. In detail, long positions are 0.2% lower than yesterday and 4.8% weaker since last week. Short positions are 14.4% lower than yesterday and 48.2% weaker since last week. Open interest is 5.8% weaker than yesterday and 23.9% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses. A Canadian dollar calendar and forex technical updates can be seen in our USDCAD currency room.

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