Speculative interest in the Canadian dollar strengthened notably in the latest reporting period, according to the latest Commitments of Traders data from the CFTC, updated on 20 February 2026. Net speculative positions in CAD climbed to 25.8K contracts, up from 13.3K previously.
The sharp increase in net long positions suggests that traders have grown more optimistic on the loonie’s prospects, with positioning nearly doubling compared to the prior reading. This shift in sentiment could reflect changing expectations around Canada’s economic outlook, interest rate path, or broader risk appetite, although the report itself only captures the positioning data, not the drivers behind it.
For market participants, the move higher in speculative longs may signal increased conviction behind the Canadian dollar’s recent performance, while also raising the potential for more pronounced reactions in CAD if sentiment reverses in future CFTC reports.
