0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • #Gold saw its worst performance the past 5 days in 5 months as longer-dated government bond yields in developed countries rose Could this be the beginning of a turning point in #XAUUSD? https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/08/15/Gold-Price-Outlook-Will-XAUUSD-Brush-off-Worst-Week-in-5-Months.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/x2Indk3b7P
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/PT09ZsIOCa
  • The US #Dollar may rise, buoyed by haven demand as fiscal stimulus talks stagnate and swelling tensions between Washington and Beijing sink trade talks. Get your #currencies update from @DanielGMoss here: https://t.co/Wcw9PDUr67 https://t.co/gnYZYl6aLV
  • Upside in #CrudeOil struggling ahead of #OPEC meeting. Cartel likely to maintain wait and see approach. Get your #commodities update from @JMcQueenFX here: https://t.co/gNHHKoTUzm https://t.co/eF40DRIBJ5
  • #Gold had some big moves last week, and while vol is expected to die down a bit, it will be important to see if gold can hold its ground in the coming days/weeks. Get your #metals update from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/3fjodPHTDm
  • The S&P 500's refusal to hit a record and Dollar's anchor to range this past week is sign of summer liquidity conditions, but the quiet is not insurmountable. 'S&P 500 Record and Dollar Break Look to Stimulus and Trade to Override Seasonality' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/15/SP-500-Record-and-Dollar-Break-Look-to-Stimulus-and-Trade-to-Override-Seasonality-.html https://t.co/mbvPkdQfYl
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkcMZBK https://t.co/kFk6ccU3Sk
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/aXSB0bG3y0
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/i342ipPuvW
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/tHp0Nb3Tr5
Retail FX Remains Net-Short USD/CAD Despite Fresh Monthly High

Retail FX Remains Net-Short USD/CAD Despite Fresh Monthly High

2015-07-17 16:30:00
David Song, Strategist
Share:

Talking Points:

- Retail FX Remains Net-Short USD/CAD Despite Fresh Monthly High .

- NZD/USD Oversold Ahead of Reserve Bank of New Zealand (RBNZ) Rate Decision.

- USDOLLAR Bullish Formation at Risk on Fails Test of June High (12,043).

For more updates, sign up for David's e-mail distribution list.

USD/CAD

USD/CAD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the unexpected uptick in Canada’s Core Consumer Price Index (CPI), USD/CAD may continue to mark fresh monthly highs in the week ahead as the Relative Strength Index (RSI) pushes deeper into overbought territory, with the next topside region of interest coming in around 1.3064 (2009 high) to 1.3080 (61.8% expansion).
  • USD/CAD looks poised to resume the long-term bullish trend following the Bank of Canada (BoC) rate cut amid the deviation in the policy outlook; need the RSI to fall back below 70 to look for a near-term pullback.
  • The DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short USD/CAD since June 18, with the ratio holding near extremes as it sits at -2.89.

NZD/USD

NZD/USD Daily Chart
  • NZD/USD may face a further decline in the week ahead as market participants anticipate the Reserve Bank of New Zealand (RBNZ) to implement a back-to-back rate cut at the July 22 meeting; all of the 19 economists polled by Bloomberg News forecast at least a 25bp rate cut to 3.00%
  • Bearish outlook remains favored for NZD/USD as the RSI retains the downward trend and pushes deeper into oversold territory, but signs of an end to the RBNZ’s easing cycle may generate a relief bounces in NZD/USD.
  • Next downside region of interest comes in around 0.6370 (50% retracement) to 0.6400 (61.8% retracement).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

USDOLLAR Toying With Breakout

The Weekly Volume Report: Low Volume Rally In USD/JPY

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

12026.36

12038.35

11998.91

0.08

72.88%

Retail FX Remains Net-Short USD/CAD Despite Fresh Monthly HighUSDOLLAR DailyFX Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the uptick in the U.S. Consumer Price Index (CPI), the Dow Jones-FXCM U.S. Dollar may consolidate in the week ahead amid the failed attempt to test the June high (12,043); will retain a constructive view for the greenback as the 10-Day SMA (11,973) offers near-term support.
  • With the headline CPI expanding for the first time in 2015, signs of faster price growth may keep the Fed on course to normalize monetary policy later this year as the central bank continues to look for a stronger recovery.
  • Still waiting on a break/close above the 12,049 (78.6% retracement) region to favor a run at the 2015 high (12,162).

Join DailyFX on Demand for Real-Time SSI Updates!

Retail FX Remains Net-Short USD/CAD Despite Fresh Monthly High

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.