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Posted by Tango
on December 30, 2019, 6:48 am
RC opened higher and was immediately sold down. KC then opened higher and was sold down as well. Both markets attempted to recover but pressure was present. Nevertheless, the market has a steady tone to it. On Friday the market was steady for most of the day with light volume. Many trade houses have ceased trading for today and tomorrow. The depth of market is unremarkable on either side and 8:00 will continues to be a question mark. The RC COT showed fund selling but even if KC funds reversed to selling because of a downward trigger, they will revert to buying if the momentum favors the upside.
Major currencies are higher against the $, except the Canadian, and all BRIC currencies are higher as well. USDMXN is 18.8391 +0.0075 (+0.04%), USDCOP is 3,296.75 +11.00 (+0.33%) and USDBRL which closed at 4.0447 is valued at 4.0441 on the CME. The LatAm currencies were higher a few minutes ago.
Bond futures corrected downward in the early hours. Equities are unchanged and metals slightly lower. Crude is higher as are grains, mostly. Sugar and cocoa are lower while cotton is higher.