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Posted by Tango
on January 28, 2020, 9:31 am
OI shows spread activity in both markets. March however shows some liquidation but the change is close to flat indicating that new business and liquidation is taking place in both markets. Pursuant to the COT, funds are selling longs in KC and adding shorts in RC. There was some origin selling today which caused forward spreads to steady but when the selling ceased, spreads snapped back to the defensive. The market is very quiet for outright trading and frozen at around 105.75 as funds continue to sell to commercials. USDBRL is 4.2065 -0.0009 (-0.0214%) and USDCOP is 3,393.5901 -5.31 (-0.1562%).