Cot 11/29

[B]CAD Signal: 25% Bullish[/B]

[B]CAD: [/B]Net speculative positioning in the USDCAD continues to recover from recover from net-short extremes, suggesting that we may see a further USDCAD correction through the medium term. Given that the previous USDCAD record-lows occurred on all-time CAD longs, a subsequent pullback in speculative sentiment supports further CAD weakness (USDCAD strength). A potential flip to net-long positioning in the USDCAD would only further calls for the currency pair’s strength.