USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Aug 05, 2022 15:00 GMT when USD/CAD traded near 1.29.


Number of traders net-short has increased by 12.06% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


USD/CAD

BULLISH

48.79%

51.21%

-27.98%
Daily

-20.92%
Weekly

45.98%
Daily

12.06%
Weekly

-2.75%
Daily

-6.88%
Weekly

USD/CAD: Retail trader data shows 48.79% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Aug 05 when USD/CAD traded near 1.29, price has moved 0.19% lower since then. The number of traders net-long is 27.98% lower than yesterday and 20.92% lower from last week, while the number of traders net-short is 45.98% higher than yesterday and 12.06% 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 Aug 05, 2022 15:00 GMT when USD/CAD traded near 1.29. 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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