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Posted by Tango
on November 18, 2019, 9:28 am
The OI shows a continuation of both the roll as well as the COT report which showed intense fund covering in both markets. Today it appears that the market is being driven by these same forces. The depth of market switched from sellers to buyers. The USDBRL which CNBC shows as the Real higher, 4.1837 -0.012 (-0.286%), is actually lower from Friday’s CME, USDBRL higher, USDCOP is 3,443.8101 +20.36 (+0.59%). Funds are not interested in the Real as much as the momentum of the market as well as a focus on their short position.