The latest data from the Commodity Futures Trading Commission (CFTC) reveals a slight downturn in the speculative net positions for the Canadian Dollar (CAD). As of September 13, 2024, the indicator has reached -69.0K, down from the previous value of -68.5K.This trend indicates that market sentiment towards the CAD remains bearish, with traders continuing to hold more short positions compared to long positions. The incremental decrease in net positions suggests a cautious but persistent negative outlook by speculators.Analysts are keeping a close eye on macroeconomic factors influencing the Canadian Dollar, such as fluctuations in oil prices and upcoming economic policy shifts. Market participants will be looking for signs of reversal or further decline in the upcoming reports to gauge the long-term trajectory of the CAD.The material has been provided by InstaForex Company – www.instaforex.com
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