Number of traders net-short has increased by 25.38% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 49.94% | 50.06% |
-1.43% Daily -13.93% Weekly |
3.75% Daily 25.38% Weekly |
1.10% Daily 2.09% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -1% | 8% | 3% |
| Weekly | -13% | 32% | 5% |
USD/CAD: Retail trader data shows 49.94% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Jun 01 when USD/CAD traded near 1.34, price has moved 0.68% lower since then. The number of traders net-long is 1.43% lower than yesterday and 13.93% lower from last week, while the number of traders net-short is 3.75% higher than yesterday and 25.38% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/CAD prices may continue to rise.
Our data shows traders are now net-short USD/CAD for the first time since Jun 01, 2023 when USD/CAD traded near 1.34. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
