We were hasty in that prediction. Whilst COT data is beginning to improve, it has yet to do so for commodities. We continue to anticipate that it will in the near future.
COT data shows that large commercials slightly increased their net short position in the US$ Index from 34,750 to 42,663. We therefore alter our position from SLIGHTLY BULLISH to NEUTRAL.
CNY: Only one item for the CNY this week.
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