Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players increased their bullish bets on the S&P 500 in the week ending July 4.
According to the data, 51.0% of market participants held long positions in the S&P 500 last week, up from 28.6% in the previous week. A reading above 50% means that more than half of traders are holding long positions for that instrument.
Meanwhile, 39.6% held long positions in EUR/USD, almost unchanged from 39.8% in the preceding week, while 42.2% of investors were long in GBP/USD, up slightly from 42.0% a week earlier.
Elsewhere, 56.8% of market participants held long positions in USD/JPY, down from 72.5% a week earlier, while 56.9% of investors were long USD/CHF, compared to 62.8% in the preceding week.
Amongst the commodity-linked currencies, 59.0% were long USD/CAD, up from 58.7% a week earlier, 59.2% held long positions in AUD/USD, compared to 53.5% in the preceding week, while 37.7% were long NZD/USD, up from 34.1% a week earlier.
In the commodities market, 59.6% of market players held long positions in gold, down from 69.6% a week earlier.
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.
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.
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