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Posted by Tango
on March 31, 2020, 7:00 am
It appears that buying and selling clashed as the market traded almost a penny lower to above unchanged. It continued higher hitting Nagual’s Daily resistance and finding the usual pressure that we repeatedly see at this level. Prices are trying to gain but continue to falter. Yesterday volume was light, 37,670 lots with 13,743 lots only as outright. EFP were high relative to volume and the market was quiet while spreads dominated. 8:00 did not reveal any particular trend and will likely be the same today.
The $ is higher against all key currencies but mixed against the BRIC and lower than the Yuan. USDMXN is 23.66 -0.128 (-0.5381%), USDCOP is 4,048.00 -13 (-0.3201%) and USDBRL is 5.2077 on the CME after closing at 5.1936.
Bond futures are lower, equities are slightly higher and metals are lower. Crude is higher, grains mostly lower and softs are near unchanged with cocoa slightly lower.
Markets are taking a break from volatility but continue to be difficult to project.