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Posted by Tango
on December 9, 2019, 6:50 am
The market opened lower and at the lows of the morning session. It has been climbing since. The arb is 60.83 and around the same level as Friday’s close. Activity was good on Friday as the market made new highs for the move but succumbed later in the day. As we see on the COT, much of the selling is new which, for now, add strength to the market when there is little follow through on the downside. Funds, including index, are in control for now, until they stop buying.
The $Index is off this morning. Major currencies are mixed but the ¥, £ and € are all higher. The Yuan is lower while other BRIC markets are higher. USDMXN is 19.2516 -0.0494 (-0.2559%), USDCOP is unchanged at 3420.50 and USDBRL shows up at 4.142 +0.0009 (+0.02%) in early hour light trading but the CME has a value of 4.1324.
Bond futures are higher while both equities and metals are around unchanged. Oil is lower sugar is higher while cotton and cocoa are lower.
Steady. dice six