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Posted by Tango
on June 24, 2019, 7:34 am
The market opened at Friday’s post close last sale of 100.20 and found support at the low of 100.00. Since then, the market has been steady, stalling at 101.00 and proceeding higher. There is no depth of market to speak of out at this level on either side. Brazil is back in the market after an extended holiday and FND is essentially over. The market will digest the COT report which may have concealed the true activity of each sector due to FND related trading but on face value it paints a picture of randomness and reduced activity. We will see what 8:00 brings.
The $ is lower against all currencies including the BRIC except for the Yuan. Bond futures are higher and providing support for gold which is likely propelled by its ETF. All metals are higher and the gold silver ratio is above 91.50. Equities are also higher together with oil, grains, bitcoin and cotton. Cocoa is lower and sugar unchanged.
USDMXN is 19.1246 +0.0055 (+0.03%), USDCOP is unchanged at 3202.00 and USDBRL which closed at 3.8190 is 3.8139 on the CME.