USD/CAD Ratio: 1.93 Signal: Bearish
USDCAD – Long USDCAD positioning eased over the past week as the ratio of long to shorts dipped from 2.33 to 1.93. From yesterday however, the ratio actually rose from 1.80 when 64% of open positions were long. Looking into the details, long positions are only 1.1% greater than Wednesday and 2.6% weaker from the same time last week. Short positions are 5.9% lower than yesterday and 12.6% stronger since last week. Overall, open interest is 1.4% weaker than yesterday and 6.1% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.