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Posted by Tango
on February 3, 2020, 9:38 am
Spreads dominated Friday’s activity. However, according to the COT, the outright activity shows new fund selling and new command large trader new buying. The market closed in a strong fashion but today the pressure is on by funds and possibly longs. The dynamics of the market have not changed as funds continue to sell while commercials continue to buy as other sectors occasionally enter the market. The roll is also on as traders are liquidating March and adding in forwards. The market is ignoring the strong Real and CPeso for now. USDBRL is 4.2433 -0.0387 (-0.9038%) and USDCOP is 3,399.25 -17.75 (-0.5195%).