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|
of clients are net long.
of clients are net short.
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.