Investing.com sentiment: speculators less bearish on euro, S&P 500

(MENAFN- FxPro) The Investing.com weekly sentiment index published on Monday revealed that speculators reduced their bearish bets against the euro and the S&P 500 in the week ending June 5.

According to the report, 28.9% of investors held long positions in EUR/USD, compared to 23.0% in the preceding week.
Elsewhere, 38.8% of investors were long in GBP/USD, little changed from 38.9% a week earlier, 60.1% of market participants held long positions in USD/JPY, down from 61.9% in the preceding week, while 53.3% of investors were long USD/CHF, improving from 44.9% in the previous week.

Amongst the commodity-linked currencies, 42.9% were long USD/CAD, up slightly from 42.7% a week earlier, 41.5% held long positions in AUD/USD, down from 49.4% in the preceding week, while 43.9% were long NZD/USD, compared to 48.3% a week earlier.
Meanwhile, 41.5% of investors were long the S&P 500 as of last week, up from just 25.8% in the preceding week.

In the commodities market, 58.9% of market participants held long positions in gold futures as of last week, improving from 54.0% 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.