Number of traders net-short has increased by 42.98% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 49.85% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Nov 19 when NZD/USD traded near 0.70, price has moved 4.16% lower since then. The number of traders net-long is 0.30% higher than yesterday and 1.52% higher from last week, while the number of traders net-short is 10.16% higher than yesterday and 42.98% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USD prices may continue to rise.
Our data shows traders are now net-short NZD/USD for the first time since Nov 19, 2021 when NZD/USD traded near 0.70. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.