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3. Suppose that CME September 2024 Canadian dollar futures contract has a price of $0.7950 per CAD. You believe the spot price in September 2024

3. Suppose that CME September 2024 Canadian dollar futures contract has a price of $0.7950 per CAD. You believe the spot price in September 2024 will be $0.7900 per CAD. Assume that you take a short or long CAD futures position in five contracts. The contract size of CME CAD futures = CAD100,000. [Hint: Refer to Ch 07 End-of-Chapter Problem \#4] (1) You would enter into a position to attempt to profit from your beliefs. (2) Your anticipated profit (loss) from holding the position is $

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