{"id":21953,"date":"2011-06-27T05:03:15","date_gmt":"2011-06-27T09:03:15","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14798"},"modified":"2011-06-27T05:03:15","modified_gmt":"2011-06-27T09:03:15","slug":"cot-data-shows-traders-now-bearish-on-cad","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/27\/cot-data-shows-traders-now-bearish-on-cad\/","title":{"rendered":"COT Data Shows Traders Now Bearish on CAD"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>Data from this past week\u2019s CFTC Commitment of Trader\u2019s Report <a href=\"http:\/\/www.cftc.gov\/marketreports\/commitmentsoftraders\/index.htm\">(COT)<\/a> shows leveraged money traders have an overall short position in the Canadian dollar for the first time in a year.<\/p>\n<p><span id=\"more-14798\"><\/span>Data from this past week\u2019s CFTC Commitment of Trader\u2019s Report shows leveraged money traders have an overall short position in the market for the Canadian dollars for the first time in a year.<\/p>\n<p>The Commodity Futures Trading Commission&#8217;s Commitments of Traders (COT) report shows long positions in the Canadian dollar have been exhausted and the market is now positioned short on the CAD.  Net Noncommercial Positions on the IMM stand on the short side of the CAD by 9011 contracts versus last week\u2019s bullish positioning of 10429. The last time the COT showed the market was positioned against the CAD was in August of 2010 when the USD\/CAD traded as high as 1.6050. This Friday the pair closed at 0.9869.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/06\/NetNonCommercial_CAD.JPG\" alt=\"NetNonCommercial_CAD\" title=\"NetNonCommercial_CAD\" width=\"626\" height=\"532\" class=\"alignnone size-full wp-image-14799\" \/><\/p>\n<p>An analysis of the open interest also displays some interesting points. We can see that the open interest has fallen dramatically to 87905, the lowest level of contracts open since early July. This tells us that the recent rise in the price of the USD\/CAD may be due to shorts covering their positions and is a bearish indicator (for the Canadian dollar). <\/p>\n<p>Given the flip in market positioning of leveraged traders to being short the CAD as well as a subsequent drop-off in open interest, I\u2019m skeptical of the long term trend downtrend resuming in the near term. <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/06\/OpenInterest_CAD1.JPG\" alt=\"OpenInterest_CAD\" title=\"OpenInterest_CAD\" width=\"625\" height=\"545\" class=\"alignnone size-full wp-image-14803\" \/><\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Data from this past week\u2019s CFTC Commitment of Trader\u2019s Report (COT) shows leveraged money traders have an overall short position in the Canadian dollar for the first time in a year.<br \/>\nData from this past week\u2019s CFTC Commitment of Trader\u2019s Report&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21953","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=21953"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21953\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}