By CountingPips.com
CAD: Canadian dollar positions decreased sharply lower once again last week to decline for a seventh consecutive week. Canadian dollar positions fell to a total of -46,663 contracts as of March 5th following a total of -21,433 net contracts that were reported for February 26th.
The Canadian dollar short positions are now at their lowest speculative level in over five years and on the bearish side for a second week.
Currency Futures Contracts Data: Non-Commercial Large Traders
March 5th: Long Positions = 39,564, Short Positions = 86,227, Net Total = -46,663
February 26th: Long Positions = 42,171, Short Positions = 63,604, Net Total = -21,433
The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).
Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.
(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)
Article by CountingPips.com – Forex News & Market Analysis
