Number of merchants net-short has decreased by 8.21% from final week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 50.07% | 49.93% |
1.87% Daily 19.44% Weekly |
-5.47% Daily -8.21% Weekly |
-1.93% Daily 3.82% Weekly |
USD/CAD: Retail dealer information reveals 50.07% 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 Sep 13 when USD/CAD traded close to 1.32, worth has moved 2.63% larger since then. The variety of merchants net-long is 1.87% larger than yesterday and 19.44% larger from final week, whereas the variety of merchants net-short is 5.47% decrease than yesterday and eight.21% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests USD/CAD costs might proceed to fall.
Our information reveals merchants are actually net-long USD/CAD for the primary time since Sep 13, 2022 when USD/CAD traded close to 1.32. Traders are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger USD/CAD-bearish contrarian buying and selling bias.
