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Posted by Tango
on December 16, 2019, 7:03 am
The market opened with selling and at a level of Friday’s post close. But buying immediately entered and has continued throughout the morning, sustaining the pre 8:00 NY session. What will happen then is a mystery as to whether the funds will continue their buying spree or not. The COT shows strong fund buying but Friday may have reprogrammed at least some of the funds. Whatever the direction today, we continue to have a good trading market.
The $Index is lower as European currencies are higher. The Yuan is lower and other BRIC currencies are weak. USDMXN is 19.0437 +0.0358 (+0.19%), USDCOP is unchanged at 3381.00 and USDBRL shows an early value of 4.107 -0.001 (-0.0243%) while the CME is indicated at 4.1025.
Markets are mostly positive now that the Christmas trade deal is more of a reality. Bond futures are lower while equities and metals are higher. Grains are higher as are sugar and cotton. Crude and cocoa are lower.