Variety of merchants net-short has elevated by 25.38% from final week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 49.94% | 50.06% |
-1.43% Every day -13.93% Weekly |
3.75% Every day 25.38% Weekly |
1.10% Every day 2.09% Weekly |
USD/CAD: Retail dealer information reveals 49.94% of merchants are net-long with the ratio of merchants brief to lengthy at 1.00 to 1. In actual fact, merchants have remained net-short since Jun 01 when USD/CAD traded close to 1.34, worth has moved 0.68% decrease since then. The variety of merchants net-long is 1.43% decrease than yesterday and 13.93% decrease from final week, whereas the variety of merchants net-short is 3.75% increased than yesterday and 25.38% increased from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests USD/CAD costs might proceed to rise.
Our information reveals merchants are actually net-short USD/CAD for the primary time since Jun 01, 2023 when USD/CAD traded close to 1.34. Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger USD/CAD-bullish contrarian buying and selling bias.
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