Forex sentiment: are retail traders long or short each currency?
Retail positioning in 9 currencies against the US dollar, from public futures data. Average reading across them: 36/100.
On 9 October 2026 small traders in currency futures were most crowded long in US dollar index (Crowd Gauge 95 out of 100) and least in British pound (GBP/USD) (4), according to TradingLookup's Crowd Gauge (October 2026).
Most crowded long: US dollar index, 95/100. Least: British pound (GBP/USD), 4/100.
Crowded shortLeaning shortBalancedLeaning longCrowded long
| Currency | Reading | Band | Week before | Small traders long |
|---|---|---|---|---|
| US dollar index | 95 | Crowded long | 94 | 69.7% |
| Australian dollar (AUD/USD) | 69 | Leaning long | 77 | 63.2% |
| New Zealand dollar (NZD/USD) | 35 | Leaning short | 43 | 40.6% |
| Mexican peso (MXN/USD) | 32 | Leaning short | 35 | 60.9% |
| Japanese yen (JPY/USD) | 32 | Leaning short | 42 | 49.6% |
| Euro (EUR/USD) | 30 | Leaning short | 19 | 59.7% |
| Swiss franc (CHF/USD) | 20 | Leaning short | 9 | 30.3% |
| Canadian dollar (CAD/USD) | 11 | Crowded short | 21 | 40.2% |
| British pound (GBP/USD) | 4 | Crowded short | 15 | 37.2% |
Why futures, and not broker sentiment?
- Broker data isn't oursMost tools show one broker's clients. We asked Myfxbook, IG and OANDA for permission; until they say yes, it has no place here.
- Public and regulatedWe use small traders in CME currency futures, from the CFTC's weekly report.
- One view of the crowdWeekly, not live. Futures traders are not the same people as spot or CFD traders.
Long the future = long the currency. Yen, Swiss franc, Canadian dollar and Mexican peso futures are priced in US dollars per unit of the foreign currency, so long the yen future is short USD/JPY.