Number of traders net-short has decreased by 69.48% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/CAD: Retail trader data shows 81.83% of traders are net-long with the ratio of traders long to short at 4.50 to 1. Our data shows traders are now at their most net-long USD/CAD since Oct 15 when USD/CAD traded near 1.32. The number of traders net-long is 10.43% higher than yesterday and 32.29% higher from last week, while the number of traders net-short is 21.23% lower than yesterday and 69.48% 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.
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.