Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators scaled back their bearish bets on the euro and the S&P 500 in the week ending July 31.
According to the report, 29.7% of investors held long positions in EUR/USD as of last week, improving from 24.8% in the preceding week.
Meanwhile, 35.7% of investors were long the S&P 500 as of last week, up from 31.8% a week earlier.
Elsewhere, 47.3% of investors were long in GBP/USD, compared to 37.9% a week earlier, 57.5% of market participants held long positions in USD/JPY, up from 51.7% in the preceding week, while 48.6% of investors were long USD/CHF, down from 50.4% in the previous week.
Amongst the commodity-linked currencies, 48.9% were long USD/CAD, falling from 54.3% a week earlier, 36.8% held long positions in AUD/USD, little changed from 36.6% in the preceding week, while 39.4% were long NZD/USD, compared to 29.4% a week earlier.
In the commodities market, 52.6% of market participants held long positions in gold futures as of last week, improving from 48.7% 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.