# Canadian dollar rises, bearish bets on currency reach all-time high - The Globe and Mail

> The Canadian dollar edged higher to about 1.3725 per US dollar on June 17 while speculators raised net short positions to a record 129,493 contracts. The Bank of Canada had become the first G7 central bank to cut rates earlier in June. Analysts linked the bearish bets to high Canadian household debt and expected slower growth.

- Date: 2024-06-17 · published 2024-06-17T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30032-canadian-dollar-rises-bearish-bets-on-currency-reach-all-time-high-the-globe
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Record bearish positioning in the loonie signals expectations of a weaker currency, which could make Canadian commodity exports more competitive. The impact on feed prices is limited and indirect.

## Read by commodity

- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-rises-bearish-bets-on-currency-reach-all-time-high/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.