Variety of merchants net-short has elevated by 10.99% from final week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/CAD: Retail dealer information reveals 76.44% of merchants are net-long with the ratio of merchants lengthy to quick at three.25 to 1. Our information reveals merchants are actually at their most net-long USD/CAD since Oct 30 when USD/CAD traded close to 1.32. The variety of merchants net-long is 7.67% greater than yesterday and 57.80% greater from final week, whereas the variety of merchants net-short is 12.40% decrease than yesterday and 10.99% greater from final week. We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests USD/CAD costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger USD/CAD-bearish contrarian buying and selling bias.