Number of traders net-short has increased by 95.22% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/CAD: Retail trader data shows 49.85% 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 Jul 20 when USD/CAD traded near 1.35, price has moved 1.66% lower since then. The number of traders net-long is 34.10% lower than yesterday and 35.07% lower from last week, while the number of traders net-short is 58.06% higher than yesterday and 95.22% 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 Jul 20, 2020 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.