According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative net positions on the Canadian dollar have declined. The previous indicator, which stood at -63.2K, has dropped to -69.2K as of the update on May 10, 2024.
This decrease in speculative net positions could indicate a shift in market sentiment towards the Canadian dollar. Traders holding more short positions than long positions may suggest a bearish outlook on the currency in the near term.
Investors and analysts will be closely monitoring how these speculative positions evolve in the coming weeks to gauge the market's sentiment and potential impact on the Canadian dollar's performance in the foreign exchange market.
