Variety of merchants net-short has elevated by 53.31% from final week. SYMBOL
Variety of merchants net-short has elevated by 53.31% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/CAD |
BULLISH |
49.86% |
50.14% |
1.15%
-18.74% |
16.92%
53.31% |
8.49%
6.31% |
USD/CAD: Retail dealer knowledge exhibits 49.86% of merchants are net-long with the ratio of merchants quick to lengthy at 1.01 to 1. In actual fact, merchants have remained net-short since Jun 01 when USD/CAD traded close to 1.36, worth has moved 0.61% larger since then. The variety of merchants net-long is 1.15% larger than yesterday and 18.74% decrease from final week, whereas the variety of merchants net-short is 16.92% larger than yesterday and 53.31% larger from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests USD/CAD costs might proceed to rise.
Our knowledge exhibits merchants at the moment are net-short USD/CAD for the primary time since Jun 01, 2020 when USD/CAD traded close to 1.36. Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger USD/CAD-bullish contrarian buying and selling bias.