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Posted by Tango
on March 13, 2020, 7:03 am
The opening was sharply higher and gapped 1.15 c from yesterday’s close. The strength has sustained for the morning session, and is consistent with the strength of markets which have been decimated recently. USDBRL after trading above 5.000 yesterday ended the day at 4.7910 and is unchanged on the CME at 4.7890. Yesterday, also in uniform with equities and crude but more in sentiment than in actuality, the market was under pressure. Spreads were strong as they are today.
Mixed key currencies are rendering a higher $Index. All the BRIC currencies are higher especially the Ruble. USDMXN is 21.588 -0.313 (-1.4292%) and USDCOP is 4,024.00 -2 (-0.0497%).
Equities are sharply higher while bonds remain unchanged. Gold is slightly lower, crude is much higher and grains are higher. Cocoa is lower while cotton and sugar are higher.
For now the market is quiet and directionless.