Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators reduced their bearish bets against the euro in the week ending April 3.
According to the report, 23.2% of investors held long positions in EUR/USD as of last week, up from 19.8% in the preceding week. A reading below 50% is bearish for the instrument.
Meanwhile, 38.2% of investors were long in GBP/USD, little changed from 38.3% a week earlier, 47.0% of market participants held long positions in USD/JPY, compared to 58.4% in the preceding week, while 47.9% of investors were long USD/CHF, down from 51.7% in the previous week.
Amongst the commodity-linked currencies, 51.5% were long USD/CAD, up from 50.0% a week earlier, 41.7% held long positions in AUD/USD, compared to 36.2% in the preceding week, while 41.7% were long NZD/USD, up from 37.6% a week earlier.
Elsewhere, 36.7% of investors were long the S&P 500 last week, down from 40.6% in the preceding week.
In the commodities market, 52.9% of market participants held long positions in gold futures as of last week, improving from 50.1% in the preceding week.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.