Investing.com | Aug 29, 2016 12:44
Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators reduced their bullish dollar bets last week, as they continued to speculate over the timing of the next U.S. rate hike.
In the commodity-linked currencies space, 40.5% were long USD/CAD, declining from 46.2% a week earlier, 52.5% held long positions in AUD/USD, compared to 54.6% in the preceding week, while 35.6% were long NZD/USD, little changed from 35.3% 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.
Written By: Investing.com
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