Canadian Dollar Forecast Calls for Strength
USDCAD – The ratio of long to short positions in the USDCAD stands at 1.38 as nearly 58% of traders are long. Yesterday, the ratio was at 1.34 as 57% of open positions were long. In detail, long positions are 0.4% higher than yesterday and 12.8% stronger since last week. Short positions are 2.2% lower than yesterday and 16.3% weaker since last week. Open interest is 0.7% weaker than yesterday and 9.4% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.
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