CFTC Data: CAD Short Covering Leads Amid Gold Buying Surge

The latest Commodity Futures Trading Commission (CFTC) positioning data shows that Canadian dollar (CAD) short covering was the leading move among major currencies, while gold buying surged.

A notable reduction in net short positions for the CAD indicates that traders were closing out bearish bets on the currency, likely driven by improving oil prices or a more hawkish stance from the Bank of Canada.

In contrast, gold saw a significant increase in net long positions, suggesting renewed safe-haven demand amid geopolitical uncertainties or expectations of monetary policy easing.

The shifts are part of the broader weekly changes in speculative positioning that market participants closely watch for sentiment signals.