Variety of merchants net-short has decreased by 13.88% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.06% |
49.94% |
92.27%
156.36% |
-6.01%
-13.88% |
26.31%
29.01% |
USD/CAD: Retail dealer knowledge reveals 50.06% of merchants are net-long with the ratio of merchants lengthy to quick at 1.00 to 1. In truth, merchants have remained net-long since Jan 22 when USD/CAD traded close to 1.31, value has moved 7.83% larger since then. The variety of merchants net-long is 92.27% larger than yesterday and 156.36% larger from final week, whereas the variety of merchants net-short is 6.01% decrease than yesterday and 13.88% 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.
Our knowledge reveals merchants are actually net-long USD/CAD for the primary time since Jan 22, 2020 when USD/CAD traded close to 1.31. 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.