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Posted by Tango
on June 6, 2019, 9:36 am
The OI shows a small drop in the total and a bigger drop in July. Relative to the volume that traded the changes are small indicating rolling July into forwards, liquidation on both sides and new business mixed in. Whether it was new selling or new buying we donít know but based on the fact that big stops that were triggered, it was likely long liquidation and new buying, possibly mostly commercial and option related. Today short covering has resumed by funds it seems. The market is steady, not very busy, with shallow dips, 40 to 30 points. London was liquidation on both side The arb is 34.87
USDBRL is 3.8735 -0.0073 (-0.1881%) and USDCOP 3290.78 -12.72 (-0.385%). The $ in general is weak and volatile.