Variety of merchants net-short has elevated by 10.26% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/CAD |
BULLISH |
49.73% |
50.27% |
-18.83%
-15.37% |
23.86%
10.26% |
-1.82%
-4.17% |
USD/CAD: Retail dealer knowledge reveals 49.73% of merchants are net-long with the ratio of merchants brief to lengthy at 1.01 to 1. In truth, merchants have remained net-short since Jun 26 when USD/CAD traded close to 1.37, value has moved 0.57% decrease since then. The variety of merchants net-long is 18.83% decrease than yesterday and 15.37% decrease from final week, whereas the variety of merchants net-short is 23.86% larger than yesterday and 10.26% 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 could proceed to rise.
Our knowledge reveals merchants at the moment are net-short USD/CAD for the primary time since Jun 26, 2020 when USD/CAD traded close to 1.37. Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger USD/CAD-bullish contrarian buying and selling bias.