Markets sentiment report: euro shorts increase last week

Shutterstock photo
Shutterstock photo

Shutterstock photo - - The weekly sentiment index published on Monday revealed that market players trimmed their bullish bets on the euro in the week ending September 5.

According to the report, 39.9% held long positions in EUR/USD last week, down from 42.8% in the preceding week. A reading between 30% and 50% is bearish for the instrument.

Meanwhile, 54.3% of investors were long in GBP/USD, compared to 58.8% a week earlier.

Elsewhere, 61.7% of market participants held long positions in USD/JPY last week, up from 61.5% a week earlier, while 49.5% of investors were long USD/CHF, compared to 51.0% in the preceding week.

Amongst the commodity-linked currencies, 48.7% were long USD/CAD, down from 48.8% a week earlier, 59.6% held long positions in AUD/USD, compared to 61.6% in the preceding week, while 61.9% were long NZD/USD, down from 65.0% a week earlier.

The report also showed that 68.1% of market players held long positions in gold last week, up from 65.2% a week earlier.

In the equities market, 25.5% of market participants held long positions in the S&P 500 last week, down from 31.9% in the previous 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 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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