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

Investing.com -

Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators added to their bearish bets on the U.S. dollar in the week ending May 6, amid expectations the Federal Reserve would hold off on raising interest rates further this year.

According to the report, 40.5% of market participants held long positions in USD/JPY as of last week, down from 42.0% a week earlier.

Meanwhile, 39.5% of investors held long positions in EUR/USD, rising from 30.3% in the preceding week, 37.5% of investors were long GBP/USD, compared to 33.2% in the previous week, while 44.9% of investors were long USD/CHF, falling from 51.9%.

Amongst the commodity-linked currencies, 39.5% were long USD/CAD, deteriorating from 47.6% a week earlier, 55.2% held long positions in AUD/USD, compared to 56.2% in the preceding week, while 46.0% were long NZD/USD, up from 42.0% a week earlier.

The report also showed that 59.9% of market participants held long positions in gold futures as of last week, improving from 50.3% in the preceding week.

Elsewhere, 38.2% of investors were long the S&P 500, compared to 45.0% 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.

Investing.com offers an extensive set of professional tools for the financial markets.

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


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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