Number of merchants net-short has elevated by 12.06% from final 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%
-20.92% |
45.98%
12.06% |
-2.75%
-6.88% |
USD/CAD: Retail dealer knowledge exhibits 48.79% of merchants are net-long with the ratio of merchants quick to lengthy at 1.05 to 1. In reality, merchants have remained net-short since Aug 05 when USD/CAD traded near 1.29, value has moved 0.19% decrease since then. The variety of merchants net-long is 27.98% decrease than yesterday and 20.92% decrease from final week, whereas the variety of merchants net-short is 45.98% greater than yesterday and 12.06% greater from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests USD/CAD costs could proceed to rise.
Our knowledge exhibits merchants at the moment are net-short USD/CAD for the primary time since Aug 05, 2022 15:00 GMT when USD/CAD traded near 1.29. Traders are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger USD/CAD-bullish contrarian buying and selling bias.