7 Jul 2014
CAD experiences 8.0K change in overall positioning - TD Securities
FXStreet (Łódź) - The TD Securities FX Research Team observe that during the week ending Tuesday, July 1, CAD experienced an 8.0K change in overall positioning, which saw net CAD shorts shift into a net long of +2.7K contracts.
Key quotes
"Albeit small, this is the first net long position in CAD since mid-February of last year."
"We think the current levels of USDCAD will be perceived as a good entry point to rebuild CAD shorts."
"We will have a better sense regarding the latter on Friday, as the next CFTC report will show the market's reaction post-US non-farm payrolls report."
Key quotes
"Albeit small, this is the first net long position in CAD since mid-February of last year."
"We think the current levels of USDCAD will be perceived as a good entry point to rebuild CAD shorts."
"We will have a better sense regarding the latter on Friday, as the next CFTC report will show the market's reaction post-US non-farm payrolls report."