Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players remained extremely bearish on the euro in the week ending January 30.
According to the report, 26.4% of investors held long positions in EUR/USD last week, up slightly from 23.9% in the preceding week. A reading below 30% indicates oversold conditions.
Meanwhile, 37.5% of investors were long in GBP/USD, compared to 35.4% a week earlier.
Elsewhere, 57.2% of market participants held long positions in USD/JPY, up from 55.7% during the previous week, while 48.0% of investors were long USD/CHF, compared to 45.5% in the preceding week.
Amongst the commodity-linked currencies, 41.9% were long USD/CAD, down from 48.6% a week earlier, 36.0% held long positions in AUD/USD, compared to 37.7% in the preceding week, while 40.5% were long NZD/USD, down from 41.2% a week earlier.
In the commodities market, 56.3% of market participants held long positions in gold futures as of last week, down modestly from 57.0% in the previous week.
The report also showed that 49.6% of investors were long the S&P 500 as of last week, up from 47.2% 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.