Canadian dollar hits 10-day high as speculators turn bullish for the first time in years

The loonie hit a 10-day high Monday as speculators turned bullish for the first time since 2023. Strong labor data and rising oil prices supported the gains.

洞察:
Speculative positioning has shifted to net-long the Canadian dollar for the first time since August 2023, according to data released by the U.S. Commodity Futures Trading Commission . This shift in Canada CACA coincided with the currency climbing to a 10-day high, as it traded 0.8% higher at 1.3565 against the U.S. dollar .
A Canadian dollar note is pictured in this illustration photo dated June 22, 2017. REUTERS/Thomas White/Illustration
A Canadian dollar note is pictured in this illustration photo dated June 22, 2017. REUTERS/Thomas White/Illustration
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