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Posted by Tango
on September 3, 2019, 10:24 am
The OI increased on Friday indicating new buyers and new sellers. We know the buyers are as commercials are buying front months and forwards. But the new selling, combined with the weakness that we see today, casts doubt that funds have discontinued selling. Of course, it could be anyone but funds are the most likely suspects. In spite of the weakness of the BRIC currencies and the major European currencies, the Real is strong. Itís difficult to be short based on COT/OI, market dynamics and the Real. USDBRL is 4.1611 -0.0246 (-0.5877%) and USDCOP is 3,432.98 -4.67 (-0.1358%).