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Posted by Tango
on December 11, 2019, 9:36 am
Th change in the OI is negative but in KC it doesnít indicate much. Relative to the high outright volume the change is small. Itís safe to say that there is a high level of participation by all groups both in outrights and spreads. Note the high level of EFP/EFS. The RC change is more telling. It is likely that funds covered, pushing the JanMar spread to 40 points while commercials sold longs. The spread is now -8 indicating possibly the end of short covering there. Today, lofty prices attracted heavy selling. It is difficult to detect what funds are doing. There are scattered bids on the way down in March and May. For now the market has held the 132.00 area and has resumed a steady tone but does feel iffy. USDBRL is 4.121 -0.0257 (-0.6198%) and USDCOP is 3,392.1299 -11.37 (-0.3341%).