Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on November 26, 2019, 9:44 am
The OI is up again with an array of EFPs. The front EFPs may be a liquidating factor but the forwards look like new business and, based on spread activity, are likely selling by origin to trade houses. EFPs or not eventually they get hedged. Otherwise the OI shows new buying and selling but more likely is varying activity by all the sectors. Today the market is choppy with both moments of weakness as well as strength. It is presently recovering from a 115.50 low at 116.2. It is Tuesday before a major holiday in the US and an extended weekend may be in the plans of traders. The Real seems also to invite selling, certainly by origin as EFPs are again posted across the board. USDBRL is 4.2559 +0.0293 (+0.69%)and USDCOP is 3,471.8601 +39.61 (+1.15%).