Weekly forex futures positioning data from the CFTC for the week ending April 27, 2021:
- EUR long 81K vs 81K long last week. No change
- GBP long 29K vs 25K long last week. Longs increase by 4K
- JPY short 49K vs 60K short last week. Shorts decreased by 11K
- CHF short 1K vs 2K short last week. Shorts decreased by 1K
- AUD short 1K vs 2K short last week. Shorts decreased by 1K.
- NZD long 7K vs 4K long last week. Longs increased by 3K
- CAD long 16K vs 13K long last week. Longs increased by 3K
The Canadian loon mates for life but the currency market has been slow to fall in love with loonie. Longs rose 11K last week and that was before the BOC. After the decision, buyers dipped another toe in but there’s plenty of room to run here. CAD longs are still below the February highs and miles away from the 2019 net long of +54K.