Variety of merchants net-short has elevated by 95.22% from final 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%
-35.07% |
58.06%
95.22% |
-6.86%
-2.40% |
USD/CAD: Retail dealer knowledge exhibits 49.85% of merchants are net-long with the ratio of merchants brief to lengthy at 1.01 to 1. In reality, merchants have remained net-short since Jul 20 when USD/CAD traded close to 1.35, worth has moved 1.66% decrease since then. The variety of merchants net-long is 34.10% decrease than yesterday and 35.07% decrease from final week, whereas the variety of merchants net-short is 58.06% larger than yesterday and 95.22% larger from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests USD/CAD costs might proceed to rise.
Our knowledge exhibits merchants are actually net-short USD/CAD for the primary time since Jul 20, 2020 when USD/CAD traded close to 1.35. Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger USD/CAD-bullish contrarian buying and selling bias.