Our data shows traders are now net-short USD/CAD for the first time since Mar 15, 2022 when USD/CAD traded near 1.28.


Number of traders net-short has increased by 8.51% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


USD/CAD

BULLISH

49.32%

50.68%

-38.73%
Daily

-22.00%
Weekly

22.16%
Daily

8.51%
Weekly

-18.02%
Daily

-9.04%
Weekly

USD/CAD: Retail trader data shows 49.32% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Mar 15 when USD/CAD traded near 1.28, price has moved 0.62% lower since then. The number of traders net-long is 38.73% lower than yesterday and 22.00% lower from last week, while the number of traders net-short is 22.16% higher than yesterday and 8.51% 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 15, 2022 when USD/CAD traded near 1.28. 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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