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
Real Time News
  • When markets are falling, how can you short sell? Learn more here:https://t.co/K4EFd6A6xd https://t.co/dCArCZmIAk
  • The US Dollar is on the defensive against most ASEAN currencies, with key breakouts in USD/SGD and USD/IDR. USD/THB upside momentum is fading as USD/PHP consolidates. Get your market updates from @ddubrovskyFX here:https://t.co/zQkUPpRr12 https://t.co/YTmJboqdMn
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.22% Silver: -0.74% Oil - US Crude: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/CBrOIlwIwi
  • Earnings are starting to lose their default bullish charge after the falter from Facebook and unimpressive afterhours Google response. Still AMZN and AAPL ahead Thursday, but for now focusing on $USDCAD with BOC: https://www.dailyfx.com/forex/video/daily_news_report/2021/10/27/Earnings-Support-for-Bull-Trend-Wavers-as-Fundamentals-Broaden-Attention-to-the-Likes-of-USDCAD-.html https://t.co/6TpIpyWVlc
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.31% 🇯🇵JPY: 0.04% 🇬🇧GBP: 0.04% 🇨🇭CHF: 0.01% 🇨🇦CAD: -0.02% 🇳🇿NZD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kr4trHaFbD
  • Possible way to finance the Biden's Build Back Better agenda https://t.co/QP0UW6Pbmw
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.25%, while traders in Wall Street are at opposite extremes with 76.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6RuOSjQNNK
  • The US Dollar might be stabilizing against ASEAN currencies as inflationary woes resurface ahead of GDP and PCE data. Amazon, Apple and Facebook earnings may also drive sentiment ahead. Get your market update from @ddubrovskyFX here:https://t.co/tY5dOmDIWS https://t.co/QFaXQHkFJ8
  • 🇨🇳 Industrial Profits (YTD) YoY (SEP) Actual: 44.7% Previous: 49.5% https://www.dailyfx.com/economic-calendar#2021-10-27
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (SEP) due at 01:30 GMT (15min) Previous: 49.5% https://www.dailyfx.com/economic-calendar#2021-10-27
Canadian Dollar May Offer Selling Opportunity at Range Lows

Canadian Dollar May Offer Selling Opportunity at Range Lows

David Rodriguez, Head of Product
Canadian Dollar May Offer Selling Opportunity at Range Lows

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

USDCAD– A notable shift in retail FX trader positioning suggests that the Canadian Dollar will remain in a broad range versus the US Dollar. Last week we were admittedly caught on the wrong side as our retail sentiment data pointed to USD/CAD strength. Yet the pair has done much the opposite, and our trader sample shows positioning is roughly neutral.

Our Speculative Sentiment Index data shows that 56 percent of open positions are currently short the USD/CAD, and a contrarian view of crowd sentiment leaves us with a modestly bullish trading bias. Yet we would need to see a much larger turn towards crowd selling to call for a stronger rally. And indeed, near-neutral positioning suggests that the pair may instead stick to a narrow range through near-term trading.

See next currency section:XAUUSD - Gold Prices Forecast to hit Further Highs

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