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Posted by Tango
on August 6, 2019, 7:29 am
Selling again controlled the early minutes but the market has suddenly strengthened and trading at the highs of the session. The depth of market shows little on either side and yesterday 8:00 brought immediate selling. Activity in Sep consisted of mostly outright trading and weakness prevailed in Coffee as in many markets. Today the atmosphere is a little more positive than yesterday as the Yuan is steadier today although still above $7.00. All the remaining BRIC currencies are following China’s lead while the major currencies are mixed and rendering an unchanged DX. USDMXN is 19.556 -0.053 (-0.2703%), The CPeso continues to drop as USDCOP trades at 3,453.45 +0.45 (+0.01%). USDBRL closed at 3.9778 and is valued at an equivalence of 3.9679 on the CME.
Bond futures are lower while equities are higher together with oil. Grains are mostly lower while metals are modestly higher. Cotton is slightly higher, cocoa lower and sugar unchanged. Our market has eased from the highs and remains on the defensive.