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Posted by Tango
on March 30, 2020, 7:18 am
Robusta opened higher followed by KC which subsequently rallied close to 120.00. Since then the market has been choppy but with a steady tone. The fate of the market continues to be questionable as decreasing volume and lack of liquidity are noticeable. Quotes in May are sometimes ,40c apart. Spreads are equally thin. After Fridayís drop we donít know what to expect at 8:00. It will depend on whether funds have reversed to selling or if they still wan to liquidate their shorts.
The $Index is higher with all key currencies lower. The Yuan is higher however as the remaining BRIC currencies are mixed and the Ruble lower with crude. The MPeso is sharply lower with USDMXN 23.815 +0.5140 (+2.21%). USDCOP is unchanged at 4010.00 and USDBRL which ended at 5.1000 is 5.1200 on the CME.
Bond futures which are key to other markets are higher but off the highs. Equities are trading either side of unchanged, gold is lower and grains are higher. Sugar and cocoa are higher while cotton is lower.