The $Index is sharply lower mostly due to the £ and €, a sign of relief that UK elections are over. We’ll see how Brexit is implemented. BRIC currencies are also higher, except for the Rupee. USDCNY is below 7.00 again as a trade agreement has been reached, but in principle only. LatAm currencies are also higher mostly. USDMXN is 19.0009 -0.0491 (-0.2577%), USDCOP is 3,369.50 +0.50 (+0.01%) and USDBRL which closed sharply lower is 4.0910 +0.0005 (+0.01%) but the CME shows a value of 4.0800.
Bonds are around unchanged while equities and metals continue to be joined as both markets are higher. Crude is higher as are grains and as are all softs.
For now the trade situation is friendly for commodities in general and for emerging markets. Lately Friday’s have been just another day but today is option expiration which could be the reason for the 140.00 resistance.
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