[B]USD[/B][B]/CAD Ratio: 2.33
[/B][B]Signal: Bearish[/B]
[B]Currency[/B] [B]Last Week[/B] [B]Present*[/B] [B]% Long[/B] [B]% Change in Positions Outstanding[/B] [B]Signal[/B] USD/CAD 2.24 [B]2.33[/B] 70% 7.47% Bearish
[B]USDCAD – [/B]The consistently net-long reading from USDCAD continued for another week. A 2.33 reading from the pair’s Speculative Sentiment Index marked an increase in net longs from the 2.24 print from last week. Yesterday, the ratio stood at 2.45. In detail, long positions are 2.0% stronger than yesterday and 9.8 percent higher than last week. Short positioning grew 4.9% from yesterday and 4.0% from last week. Open interest is 2.8% stronger than yesterday, 7.5% higher than last week and 7.7% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.