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Posted by Tango
on February 21, 2020, 7:06 am
The market opened with buying and attempted gains were stymied but there is a Friday firmness present. Yesterday, the market was under pressure all day and became exhausted. Itís been under pressure all week possibly encouraged by the weak Real. Origin selling is not evident unless it is taking place closer to May. There is forward buying beginning to build but well below current levels and beginning with Mar21.
The $Index is lower as it has climbed close to the 100.00 price but key currencies are lower as well as are the BRICs, except for the Real. USDBRL is 4.3919 -0.0014 (-0.0319%). USDMXN is 19.0538 +0.2268 (+1.20%) and USDCOP is unchanged at 3401.40
Bond futures are very strong, equities are lower and metals are much higher. Crude is down, sugar is slightly higher while cotton and cocoa are lower.