Number of traders net-short has increased by 12.34% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 49.86% | 50.14% |
1.44% Daily -20.32% Weekly |
3.50% Daily 12.34% Weekly |
2.46% Daily -6.72% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 5% | -23% | -7% |
| Weekly | 29% | -31% | -3% |
USD/CAD: Retail trader data shows 49.86% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Jan 25 when USD/CAD traded near 1.35, price has moved 0.07% lower since then. The number of traders net-long is 1.44% higher than yesterday and 20.32% lower from last week, while the number of traders net-short is 3.50% higher than yesterday and 12.34% 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 Jan 25, 2024 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.