Asset managers have been increasing their net-short exposure against the Canadian dollar in recent weeks. And with recent inflation data cooling bets of multiple Fed cuts and the US dollar regaining strength, USD/CAD could be looking for a move to 1.39 or 1.40.
Matt Simpson, Market Analyst at City Index and Forex.com
Matt Simpson, Market Analyst at City Index and Forex.com
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.