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Posted by Tango
on August 12, 2019, 7:04 am
The market opened below unchanged and continued the morning on the softer side. There are some scattered bids in Dec and very good bids are present in the forwards stretching from Dec20 to Sep21 2 to 4 cents below current levels. 8:00 has been bringing buying but it is uncertain now that options expiration is out of the way. There will likely be some residual activity as the market spent most of the active day on Friday above the 97.50 strike and closing right below it not giving either call or put holders much opportunity to square their books.
Markets continue to be influenced by economic instability. Most major currencies are lower. The ¥ and the £ are higher. The Yuan is higher but the other BRIC countries are uniformly lower. USDMXN is 19.7404 +0.3394 (+1.75%), USDCOP is unchanged at 3,393.00 and USDBRL which closed at 3.9406 has a value, based on the CME, of 4.0057.
Bond futures are higher and quiet. Gold is higher but other metals are unchanged to lower. Equities are lower as are oil and grains. Cocoa is higher, sugar unchanged and cotton lower.