Number of traders net-short has decreased by 8.62% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 50.32% | 49.68% |
43.32% Daily 7.30% Weekly |
-25.48% Daily -8.62% Weekly |
-1.74% Daily -1.25% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 42% | -26% | -2% |
| Weekly | 15% | -10% | 1% |
USD/CAD: Retail trader data shows 50.32% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Apr 10 when USD/CAD traded near 1.37, price has moved 0.10% lower since then. The number of traders net-long is 43.32% higher than yesterday and 7.30% higher from last week, while the number of traders net-short is 25.48% lower than yesterday and 8.62% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CAD prices may continue to fall.
Our data shows traders are now net-long USD/CAD for the first time since Apr 10, 2024 when USD/CAD traded near 1.37. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
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