Francesco Pesole, FX Strategist at ING, points out that CAD’s net positioning has only recently moved at the top of the board in the G10 space (surpassing the dollar), but it is already facing a correction as per the CFTC Commitments of Traders figures for the week 13-19 November. Key Quotes “In the week covered by CFTC data, CAD’S net longs retracted by 6.5% of open interest to +17%, with the drop outpacing those in the other commodity currencies (AUD -1.9%, NZD -2.4%). Such dynamics is strictly related to markets increasingly pricing in Bank of Canada easing.” “However, it must be noted that the data does not cover the speech by Canadian central bank Governor Poloz on 21 November which prompted a fierce hawkish repricing in the OIS curve (implied probability of a cut in December is down to 8% from 20% last week). In turn, we expect the next CFTC report not to display a further slump in CAD positioning.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK: Growth slowed significantly since the 2016 referendum – ABN AMRO FX Street 3 years Francesco Pesole, FX Strategist at ING, points out that CAD's net positioning has only recently moved at the top of the board in the G10 space (surpassing the dollar), but it is already facing a correction as per the CFTC Commitments of Traders figures for the week 13-19 November. Key Quotes "In the week covered by CFTC data, CAD'S net longs retracted by 6.5% of open interest to +17%, with the drop outpacing those in the other commodity currencies (AUD -1.9%, NZD -2.4%). Such dynamics is strictly related to markets increasingly pricing in Bank of Canada easing." "However, it… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
