Variety of merchants net-short has decreased by 69.48% from final week. SYMBOL
Variety of merchants net-short has decreased by 69.48% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/CAD |
BEARISH |
81.83% |
18.17% |
10.43%
32.29% |
-21.23%
-69.48% |
2.92%
-17.62% |
USD/CAD: Retail dealer information exhibits 81.83% of merchants are net-long with the ratio of merchants lengthy to brief at 4.50 to 1. Our information exhibits merchants are actually at their most net-long USD/CAD since Oct 15 when USD/CAD traded close to 1.32. The variety of merchants net-long is 10.43% increased than yesterday and 32.29% increased from final week, whereas the variety of merchants net-short is 21.23% decrease than yesterday and 69.48% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests USD/CAD costs could proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger USD/CAD-bearish contrarian buying and selling bias.