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Canadian Dollar Forecast to Appreciate Against USD

Canadian Dollar Forecast to Appreciate Against USD

2010-03-04 15:48:00
David Rodriguez, Head of Business Development
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 SSI304usdcad

USDCAD – The ratio of long to short positions in the USDCAD stands at 3.51 as nearly 78% of traders are long. Yesterday, the ratio was at 2.78 as 74% of open positions were long. In detail, long positions are 12.5% higher than yesterday and 101.8% stronger since last week. Short positions are 10.9% lower than yesterday and 15.1% stronger since last week. Open interest is 6.3% stronger than yesterday and 27.2% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.

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