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Number of traders net-short has increased by 30.91% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 48.57% | 51.43% |
-12.50% Daily -22.83% Weekly |
32.59% Daily 30.91% Weekly |
6.04% Daily -2.18% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -13% | 33% | 6% |
| Weekly | -23% | 31% | -2% |
USD/CAD: Retail trader data shows 48.57% of traders are net-long with the ratio of traders short to long at 1.06 to 1. In fact, traders have remained net-short since Dec 13 when USD/CAD traded near 1.35, price has moved 0.14% lower since then. The number of traders net-long is 12.50% lower than yesterday and 22.83% lower from last week, while the number of traders net-short is 32.59% higher than yesterday and 30.91% 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 Dec 13, 2023 when USD/CAD traded near 1.35. 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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