https://www.reuters.com/markets/curr...gh-2024-06-17/
As of June 11, non-commercial accounts had increased their net short positions in the Canadian dollar to 129,493 contracts from 91,639 in the prior week, data on Friday from LSEG and the U.S. Commodity Futures Trading Commission showed.
It marked the largest net short position in the currency in data going back to 1986.
https://www.bnnbloomberg.ca/hedge-fu...ears-1.2015084
Hedge funds bet most against Canadian dollar in almost five years
“The Canadian dollar short base is still substantial as inflation remains stubborn and growth lackluster,” said Brad Bechtel, global head of foreign exchange at Jefferies LLC in New York. “The market has been short the pro-cyclical G-10 commodity currencies all year, including the Australian dollar, Norwegian krone and the Canadian dollar.”
The loonie has lagged its Group-of-10 peers this quarter. The Canadian economy unexpectedly shrank in the third quarter and is on track to only narrowly avoid a second straight quarter of declines.