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|
of clients are net long.
of clients are net short.
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.