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Investing.com sentiment index: speculators add to bullish dollar bets

Published 30/05/2016, 07:31 pm
© Reuters.  Investing.com sentiment index: speculators add to bullish dollar bets for 3rd straight week
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Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators added to their bullish bets on the U.S. dollar for the third straight week, amid growing expectations that the Federal Reserve could raise rates this summer.

According to the report, 48.8% of market participants held long positions in USD/JPY in the week ended May 27, rising from 37.1% a week earlier.

Meanwhile, 35.6% of investors held long positions in EUR/USD as of last week, falling from 39.5% in the preceding week, 37.4% of investors were long GBP/USD, compared to 38.0% in the previous week, while 42.8% of investors were long USD/CHF, declining from 43.2%.

Amongst the commodity-linked currencies, 44.7% were long USD/CAD, increasing from 42.5% a week earlier, 42.5% held long positions in AUD/USD, compared to 46.0% in the preceding week, while 48.2% were long NZD/USD, up from 45.5% a week earlier.

The report also showed that 56.3% of market participants held long positions in gold futures as of last week, sliding from 60.2% in the preceding week.

Elsewhere, 54.7% of investors were long the S&P 500, rising sharply from 34.8% a week earlier.

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.

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