This week’s CoT reading interpretation was somehow distorted by two major macro developments that continue to drive markets. The most recent news on both Brexit and China/US trade negotiations were not captured by the latest CoT data up to Nov 13th. I am referring to the fallout in the UK government after the resignation of UK’s Brexit Secretary Raab and a number of new political uncertainties. On the China trade negotiations with the US, a tweet by Trump late on Friday led to a re-pricing of a better outcome at the G20 summit, scheduled for early December. The tweet led to algorithms pushing down the USD ahead of ... (full story)