The $ is strong against all currencies except for the Yen and the Yuan and other EMs but the Real is weak according to the CME. Please note that yesterday the futures market adjusted to the stronger Real cash market. The Real closed at 4.1578 and is valued at 4.1719 on the CME. USDMXN is a reasonable guide for the other LATAM currencies and is 19.8512 +0.0362 (+0.18%). USDCOP is 3,493.50 +0.50 (+0.01%)
Bond futures are higher. Precious metals are slightly higher but considerably higher from the lows. Equities are lower while crude is higher. Grains are lower, cotton is lower while sugar is unchanged and cocoa higher.
Hopefully the market will “explode” as it consolidates. There continues to be a bullish tone in spite of all the selling. Funds that are active are inconsistent and unpredictable. They may be covering now. Systems trading doesn’t appear to be as dominant as we once experienced. 100.00 held once again for now.
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