Bloomberg reports that at the moment short positioning is the highest against the Canadian currency, which is even higher from the period when the price of Oil fell below $30 per barrel.
The factors which play negative roll against the currency are the price of Oil and the worrisome situation around the housing market. The house prices continue to rise and are reaching very high levels, such as the situation just prior to the US housing bubble. The attempts of the administration to cool off the demand, the buying and the fast rise of the prices remains a failure.
Source of the graph: Bloomberg
Trader Senan Fuchedzhiev
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