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Posted by Tango
on March 6, 2020, 10:05 am
The OI did not change indicating a combination of new business and liquidation. Origin selling is likely as spreads across the board tightened and the Real dropped. There is likely commercial buying as well that is option related. There is probably new buying and selling and liquidation on both sides by every sector making the OI flat in elevated outright volume. Today the activity is the same as yesterday and prices remain weak.
The $ remains weak but the both the CPeso and he Real are also very weak making the currencies even weaker USDBRL is 4.6641 +0.0568 (+1.23%) and USDCOP is 3,583.8501 +47.85 (+1.35%).
Forward bids are beginning to show as the mark made a new low of 108.00. RC shows liquidation but true to the COT this would be funds buying from possibly commercials on thy down.