Our data shows traders are now net-short USD/CAD for the first time since Mar 29, 2023 when USD/CAD traded near 1.36.
Number of traders net-short has increased by 29.07% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 49.83% | 50.17% |
-13.70% Daily -26.50% Weekly |
23.68% Daily 29.07% Weekly |
1.72% Daily -6.25% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -14% | 19% | 0% |
| Weekly | -28% | 24% | -9% |
USD/CAD: Retail trader data shows 49.83% 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 Mar 29 when USD/CAD traded near 1.36, price has moved 0.15% lower since then. The number of traders net-long is 13.70% lower than yesterday and 26.50% lower from last week, while the number of traders net-short is 23.68% higher than yesterday and 29.07% 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 Mar 29, 2023 when USD/CAD traded near 1.36. 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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