Variety of merchants net-short has elevated by 12.70% from final week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/CAD: Retail dealer information reveals 47.79% of merchants are net-long with the ratio of merchants quick to lengthy at 1.09 to 1. Actually, merchants have remained net-short since Oct 17 when USD/CAD traded close to 1.31, value has moved Zero.65% greater since then. The variety of merchants net-long is 23.89% decrease than yesterday and 20.92% decrease from final week, whereas the variety of merchants net-short is Zero.28% decrease than yesterday and 12.70% greater 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 information reveals merchants at the moment are net-short USD/CAD for the primary time since Oct 17, 2019 when USD/CAD traded close to 1.31. Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger USD/CAD-bullish contrarian buying and selling bias.