USD/CAD IG Client Sentiment: Our data shows traders are now at their most net-long USD/CAD since Oct 30 when USD/CAD traded near 1.32.
Number of traders net-short has increased by 10.99% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/CAD: Retail trader data shows 76.44% of traders are net-long with the ratio of traders long to short at 3.25 to 1. Our data shows traders are now at their most net-long USD/CAD since Oct 30 when USD/CAD traded near 1.32. The number of traders net-long is 7.67% higher than yesterday and 57.80% higher from last week, while the number of traders net-short is 12.40% lower than yesterday and 10.99% higher 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.
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