Investing.com - The Investing.com weekly sentiment index published on Tuesday revealed that speculators remained extremely bearish on the euro and the S&P 500 in the week ending July 3.
According to the report, 27.4% of investors held long positions in EUR/USD as of last week, compared to 26.8% in the preceding week.
Meanwhile, 25.4% of investors were long the S&P 500 as of last week, down from 37.3% a week earlier.
A reading below 30% indicates oversold conditions.
Elsewhere, 41.5% of investors were long in GBP/USD, improving from 36.2% a week earlier, 59.0% of market participants held long positions in USD/JPY, little changed from 59.6% in the preceding week, while 53.0% of investors were long USD/CHF, up slightly from 52.2% in the previous week.
Amongst the commodity-linked currencies, 39.2% were long USD/CAD, down from 49.6% a week earlier, 48.0% held long positions in AUD/USD, compared to 47.7% in the preceding week, while 42.6% were long NZD/USD, unchanged from a week earlier.
In the commodities market, 54.3% of market participants held long positions in gold futures as of last week, down from 62.9% 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.