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Posted by Tango
on October 3, 2019, 7:32 am
As we look at the chart, there was some selling at the opening, and again at 4:30 as a result of selling in RC. Since then the market has recovered and has been quiet and flat. Yesterday’s volume was a mere 21,657 lots with only a few spreads trading. Activity remained to some degree in forward months and again the market had difficulty in the 101-102 level while 100 remained an area of support. Today the sell side is favored above 101.00 in the depth of market. 8:00 should again bring a mixed bag. This market can be defined as one struggling to go higher.
The $Index is higher now after having dropped, but is drifting downward. Major currencies are are mixed. The Yuan is lower but other BRIC currencies are higher. The Real which closed at 4.1287 is valued at 4.1316 on the CME, but USDMXN is 19.7354 -0.0578 (-0.292%). The CPeso continues to drop and USDCOP closed at 3,492.75 and is unchanged.
Equities are higher as are bond futures but all other markets are unchanged or close to it. Cocoa is slightly higher.