Number of traders net-short has decreased by 45.51% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 50.26% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since May 19 when NZD/USD traded near 0.61, price has moved 2.66% higher since then. The number of traders net-long is 42.72% higher than yesterday and 28.95% higher from last week, while the number of traders net-short is 17.09% lower than yesterday and 45.51% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests NZD/USD prices may continue to fall.
Our data shows traders are now net-long NZD/USD for the first time since May 19, 2020 when NZD/USD traded near 0.61. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.