Canadian Dollar ETF Sees $3.5M Redemptions Amid Bearish Sentiment

The Canadian Dollar Trust's FXC ETF saw significant redemptions on August 20, amounting to $3.54 million, which accounts for approximately 5.6% of its total assets under management.

This outflow reduces the fund's AUM to around $63.57 million, indicating that investors are reevaluating their exposure to the Canadian dollar.

The related asset FX:USD-CAD is currently trading at 1.38672, showing a nearly flat performance over the past three months with a marginal 0.22% gain.

However, technical signals suggest a bearish tone for the Canadian dollar in the short term, as traders anticipate further softness against the U.S. dollar.