Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators added to their bearish bets against the euro in the week ending April 24.
According to the report, 23.7% of investors held long positions in EUR/USD as of last week, down from 27.2% in the preceding week. A reading below 30% indicates oversold conditions.
Meanwhile, 29.7% of investors were long in GBP/USD, compared to 34.8% a week earlier, 52.0% of market participants held long positions in USD/JPY, down from 54.7% in the preceding week, while 55.9% of investors were long USD/CHF, improving from 50.1% in the previous week.
Amongst the commodity-linked currencies, 49.1% were long USD/CAD, down from 51.6% a week earlier, 39.8% held long positions in AUD/USD, compared to 30.3% in the preceding week, while 27.2% were long NZD/USD, down from 34.5% a week earlier.
Elsewhere, 30.9% of investors were long the S&P 500 as of last week, little changed from 31.3% in the preceding week.
In the commodities market, 55.6% of market participants held long positions in gold futures as of last week, up from 52.9% 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.