Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators scaled back their bearish bets on the euro in the week ending January 22.
According to the report, 33.2% of investors held long positions in EUR/USD as of last week, rising from 27.0% in the preceding week
Meanwhile, 37.3% of market participants held long positions in USD/JPY, down slightly from 38.7% a week earlier, 40.3% of investors were long GBP/USD, compared to 47.1% a week earlier, while 44.1% of investors were long USD/CHF, falling from 47.5% in the previous week.
Amongst the commodity-linked currencies, 58.1% were long USD/CAD, jumping from 42.2% a week earlier, 32.4% held long positions in AUD/USD, compared to 41.3% in the preceding week, while 36.2% were long NZD/USD, slumping from 41.2% a week earlier.
The report also showed that 34.2% of investors were long the S&P 500, falling from 38.4% a week earlier.
Elsewhere, 52.9% of market participants held long positions in gold futures last week, compared to 50.9% 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.