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USD/CAD COT Outlook: week from 30.06.2014


Weekly Change Non-Commercial Longs Price Change Open Interest
CAD 16,213 -90 -29,016
AUD 6,434 33 -29,016
EUR 4,332 3 5,755
GBP -2,845 109 4,138
JPY -3,185 -22 -4,750
CHF -8,892 -12 1,340

**Market Overview:**
The market has seen some stability over the last few weeks but traders are active in the market. The market remains short the euro and the yen by about around $10bn and $9bn respectively, whilst sterling and aussie are long $5bn and $3bn respectively, with the other currencies holding net flat. It is clear that the market isn’t necessarily positioned for a dollar move, but is focussed on individual currencies and their local development.

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USDCAD Weekly Change 24-Jun-14 17-Jun-14 10-Jun-14
Net Non-Commercial Positions 16,213 -5,320 -21,533 -24,108
Price -90 1.0788 1.0878 1.0900
Open Interest -29,016 103,193 132,209 125,832

**USDCAD OUTLOOK: Neutral**
There has been a significant reduction in short CAD positions to around $0.5bn. There is a clear change in the sentiment towards CAD and therefore could lead to some developments.
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