Skip to content
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. See our updated Privacy Policy here.

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
Subscribe
Please try again
More View more
Crowd Sentiment Continues to Favor USD/CAD Gains

Crowd Sentiment Continues to Favor USD/CAD Gains

David Rodriguez, Head of Product
Crowd Sentiment Continues to Favor USD/CAD Gains

Why and how do we use the SSI in trading? View our video and download the free indicator here

USDCAD– Retail FX traders remain aggressively short the US Dollar versus the Canadian Dollar, and until this changes we will maintain our contrarian calls for further USD/CAD strength.

In fact our data shows that aggregate positioning was recently at its most net-short USD/CAD since at least 2011. It’s possible that sentiment has reached an important extreme, but this is only obvious in hindsight. We would need to see a material shift towards crowd buying before calling for a meaningful turnaround.

See next currency section:AUDUSD - Australian Dollar May Continue Lower versus US Dollar

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

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

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

DISCLOSURES