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Posted by Tango
on December 31, 2019, 6:57 am
the opening was steady and prices moved to above settlement but resistance is present. Yesterday the market continued to show strength in a low volume environment. Funds are buyers if true to the COT but today is the last day of the year and contrary motivations to impact prices may be at play. For now the market is holding and remains quiet.
The $ is lower against all major currencies but not so with the BRIC. Although the Yuan is higher other currencies are lower. USDMXN is 18.911 -0.012 (-0.0634%), USDCOP is unchanged at 3,282.76 and USDBRL which closed at 4.0191 is valued at 4.0376 on the CME.
Bond futures are mixed while equities and metals are higher. Crude is higher as is cocoa. Sugar is unchanged and cotton lower.