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.

Free Trading Guides
EUR/USD
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
Oil - US Crude
Mixed
Wall Street
Bearish
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
Mixed
More View more
Real Time News
  • Análisis $USDMXN: Peso Mexicano cierra el primer trimestre con pérdidas superiores al 28% #usd #mxn #trading https://t.co/cPRrecg6lf
  • Moody's forecasts China real GDP growth of 3.3% for 2020
  • 🇺🇸 USD MBA Mortgage Applications (MAR 27), Actual: 15.3% Expected: N/A Previous: -29.4% https://www.dailyfx.com/economic-calendar#2020-04-01
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/gIARIOHCxS
  • This is a new vehicle for the #Fed to make USD liquidity available across markets. As noted yesterday (https://www.dailyfx.com/forex/fundamental/article/special_report/2020/03/31/US-Dollar-May-Resume-Rise-Amid-Global-Recession-Fears.html) the market pop after the open-ended QE news looked temporary as credit conditions remained stubbornly tight https://t.co/DlbIue2Ve5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.66%, while traders in EUR/GBP are at opposite extremes with 70.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RWMrvVaVrN
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (MAR 27) due at 11:00 GMT (15min), Actual: N/A Expected: N/A Previous: -29.4% https://www.dailyfx.com/economic-calendar#2020-04-01
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 1.01% Silver: 0.52% Oil - US Crude: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TMmVzBqKty
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.00% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.59% 🇳🇿NZD: -1.01% 🇦🇺AUD: -1.17% 🇨🇦CAD: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/T4HOBphWrG
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/07GFNDWDHA
Canadian Dollar Forecast to Decline

Canadian Dollar Forecast to Decline

2012-09-20 14:48:00
David Rodriguez, Head of Product
Share:

<

ssi_usd-cad_1_body_Picture_11.png, Canadian Dollar Forecast to Decline

The majority of retail traders remain long the US Dollar (ticker: USDOLLAR) against the Canadian Dollar, but an important shift in crowd sentiment led our “Tidal Shift” strategy to go long USDCAD from C$.9700.

There are currently 2.15 retail traders long the USDCAD for every one that is short, but that ratio represents a significant moderation from last week. Long interest has dropped 21 percent while short positions more than doubled at +103 percent.

We don’t often advocate joining the crowd as they remain aggressively net-long a given currency pair, but the sharp shift in sentiment serves as important warning of a potential USDCAD bottom.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to drodriguez@dailyfx.com;

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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

DISCLOSURES

News & Analysis at your fingertips.