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Number of traders net-short has increased by 5.40% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 31.29% | 68.71% |
-13.67% Daily -15.79% Weekly |
43.21% Daily 5.40% Weekly |
18.73% Daily -2.29% Weekly |
USD/CAD: Retail trader data shows 31.29% of traders are net-long with the ratio of traders short to long at 2.20 to 1. Our data shows traders are now at their least net-long USD/CAD since Jun 21 when USD/CAD traded near 1.29. The number of traders net-long is 13.67% lower than yesterday and 15.79% lower from last week, while the number of traders net-short is 43.21% higher than yesterday and 5.40% 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.
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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