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Posted by Tango
on May 15, 2020, 7:03 am
Robusta has been demonstrating occasional buying throughout the morning. KC opened higher and encountered resting selling but support persisted and prices are trying to climb and remain over 108.00. Yesterday, 105.00 level proved to be a base where thin but consistent selling encountered solid support in the form of commercial buying, and changing the marketís composure. Volume was higher and seems to be steadily climbing. EFPs were posted in several forward months. The steady market attracted some forward selling as the Real, although steady yesterday, is still looking at 6.00 in USDBRL as its next target. For now KC remains quiet and steady on this Friday as we wait to see what 8:00 will bring.
All key currencies are higher against a lower $Index. BRIC are mixed with the Yuan lower. USDMXN is 23.8889 +0.0289 (+0.12%), USDCOP is 3,938.00 +5.32 (+0.14%) and USDBRL on the CME is 5.8418 +.0311 against the spot closing value, +.54%.
Bond futures are higher and equities have just turned negative. Gold has also turned lower while crude remains slightly higher. Other metals are higher especially silver. Grains and softs are higher but Dec cotton is lower.