USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Jul 15, 2022 when USD/CAD traded near 1.30.

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USD/CAD Client Positioning

Number of traders net-short has increased by 30.77% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


USD/CAD

BULLISH

49.14%

50.86%

-12.50%
Daily

-32.97%
Weekly

33.94%
Daily

30.77%
Weekly

6.23%
Daily

-10.87%
Weekly

USD/CAD: Retail trader data shows 49.14% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Jul 15 when USD/CAD traded near 1.30, price has moved 1.23% lower since then. The number of traders net-long is 12.50% lower than yesterday and 32.97% lower from last week, while the number of traders net-short is 33.94% higher than yesterday and 30.77% 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 Jul 15, 2022 when USD/CAD traded near 1.30. 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.



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