Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on November 5, 2019, 6:55 am
Robusta opened higher but eased as Arabica did not follow suit. KC has been under pressure but resting bids are piling up in forward months and providing support. Dec depth of market is balanced. 8:00 will likely continue to bring buying but the eagerness to sell cannot be dismissed. Yesterday the market attempted to reach 105.00 but was met with selling that eventually overpowered the market. The roll is a factor but most of it takes place in the form of spreads. Yesterday’s volume was 90,944 lots of which 67% was spreads. Dec was around 50% spreads. SepDec continues to be under pressure and is now -3.65 bid.
The $Index was lower against to other currencies but is now higher as major markets remain mixed. The Yuan is higher bringing the USDCNY to below 7.00. Other BRIC currencies are also higher. USDMXN is 19.132 -0.041 (-0.2138%), USDCOP is unchanged at 3320.0 and USDBRL which closed at 4.0125 shows a value of 4.0030 on the CME.
Bond futures are lower, equities higher and precious metals lower. Crude is higher and the softs are mostly higher with cocoa unchanged.