Short term
Trade view / 07 July 2016 at 11:05 GMT

#SaxoStrats.UPDATE: Long USDCAD stopped out

Head of FX Strategy / Saxo Bank

We were stopped out of this USDCAD long position after it initially showed some promise yesterday on a weak May trade balance data release from Canada and a much stronger than expected US June ISM non-manufacturing survey. 

This should theoretically have supported the USDCAD rally, but a resurgence in general risk appetite late yesterday, together with dovish Federal Open Market Committee minutes and a market that seems to think that the good US data has no bearing on the near-term outlook for the Fed for now, saw the USD upside rapidly fading. 

A strong US jobs report on Friday could alter the equation for the US dollar, but for now, we’re stuck back in the range in USDCAD and will have to reassess the outlook in coming sessions.

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
07 July
Dj TinTin Dj TinTin
no sign of long got a long trade open , should I take a loss ?


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail