Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on August 16, 2019, 9:39 am
The OI indicates that liquidation of both spreads and outrights has subsided. The flat OI shows that spreads were rolled rather than closed out yesterday and that outright trading consists of new vs old, likely fund new selling and short covering by commercials and others. EFP activity is elevated as expected during notice season.There is also a combination of middle months buying and more forward selling which is new. Today the forward selling is absent however. The market has been under pressure since prior to and after 8:00. It is is quiet with the exception of some spread activity. USDBRL is 3.9882 -0.0026 (-0.0651%) and USDCOP is 3,450.75 -18.05 (-0.5204%).