Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players increased their long positions in the euro in the week ending May 9, while remained aggressively short on the S&P 500.
According to the report, 55% of market participants held long positions in EUR/USD last week, up from 41.1% a week earlier. A reading between 50% and 70% is bullish for the instrument.
Investors were also 47.9% long in GBP/USD, compared to 41% in the preceding week, while 54.1% held long positions in USD/JPY, up from 47.6% a week earlier.
Amongst the commodity-linked currencies, 50.3% were long USD/CAD, compared to 48.7% a week earlier, 48.4% held long positions in AUD/USD, improving from 46.9% in the preceding week, while 49.3% were long NZD/USD, down from 50.7% a week earlier.
Elsewhere, only 12.3% of investors held long positions in the S&P 500 last week. A reading below 30% indicates oversold conditions.
In the commodities market, 57.5% of market players held long positions in gold.
The Investing.com series of indexes is developed in-house, using data from futures exchanges and OTC providers on all long and short open positions.
A reading between 50% and 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.