USD/CAD Client Positioning

Number of traders net-short has increased by 95.22% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


USD/CAD

BULLISH

49.85%

50.15%

-34.10%
Daily

-35.07%
Weekly

58.06%
Daily

95.22%
Weekly

-6.86%
Daily

-2.40%
Weekly

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.



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