Large specs doubled bullish Canadian dollar bets, latest CFTC data shows

-27th straight week of net long US dollar bets

-Euro zone debt crisis continues to dominate currency news

-Large speculators once again cut net short Euro bets

-Large speculators better than doubled bets long Canadian dollar

USDCAD

CFTC data released Friday March 23rd shows IMM currency speculators cut sizable bets long of the US dollar by more than one third, and increased bets long Canadian dollar by more than double. The most recent Commitments of Traders data shows some significant percentage changes in speculative positions in the currencies from the prior week including the following:

Commitments of Traders Data

(Non-Commercial Net Position Data)

A game changing 58.35% increase from 26,721 to 42,315 contracts net long of the Canadian dollar;

A trimming 24.37% decrease from 14,798 to 11,191 contracts net short of the Swiss Franc;

A massive 62.12% decrease from 41,848 to 15,852 contracts net short of the British Pound;

A significant 39.07% decrease from 42,380 to 25,821 contracts net short of the Japanese Yen;

An important 16.49% decrease from 99,336 to 82,954 contracts net short of the Euro;

And perhaps topping 32.30% decrease from 66,756 to 45,191 contracts net long of the Australian dollar.

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