Canadian Dollar Could Continue to Strengthen
USDCAD – The ratio of long to short positions in the USDCAD stands at 7.25 as nearly 87% of traders are long. Yesterday, the ratio was at 6.63 as 87% of open positions were long. In detail, long positions are 1.8% higher than yesterday and 10.7% stronger since last week. Short positions are 2.3% lower than yesterday and 23.3% weaker since last week. Open interest is 1.2% stronger than yesterday and 3.0% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.
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