The $Index is considerably higher as all key currencies are lower. The Yuan together with Chinese equity and commodity prices are sharply lower. However the remaining BRIC currencies are positive. USDMXN is 18.7998 -0.0355 (-0.1885%), USDCOP is unchanged at 3417.00 and USDBRL is 4.2702 -0.0118 (-0.2756%).
Bond futures are lower but recovering. Equities in the US are higher and metals except copper are lower. Oil is higher as are grains. Sugar and cotton are higher while cocoa is lower.
Why the weakness in KC exists is uncertain to me. First impressions were financials in China that were responsible but other key markets like copper and cotton are not reacting to the Yuan. We will see if the buying from Friday will emerge later in the morning. For now the market is holding firm. The arb is 41.16 and relatively steadier. The market just now tested above 102.00 and got hit.
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