Canadian Dollar Expected to Gain vs. US Dollar

[B]USDCAD [/B]– The vast majority of retail speculators remain long the US Dollar against the Canadian Dollar, and our contrarian strategies remain short USDCAD on crowd sentiment. The ratio of long to short positions in the USDCAD stands at 2.82 as nearly 74% of traders are long. Yesterday, the ratio was at 2.91 as 74% of open positions were long. In detail, long positions are 0.4% higher than yesterday and 13.3% weaker since last week. Short positions are 3.5% higher than yesterday and 11.5% weaker since last week. Open interest is 1.2% stronger than yesterday and 12.1% below its monthly average. The SSI is a contrarian indicator and signals further USDCAD losses.