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Posted by Tango
on May 27, 2020, 9:33 am
Slight increase in the OI indicates that most of the activity is new against old. Which was which yesterday is uncertain. More obvious is the liquidation of July into Sep indicating rolling time for July. Currently the market is holding Friday’s lows as some forward bids are getting hit. The last cot report showed swap dealers selling, possibly, institutional. Or we could be seeing normal notice season liquidation. Prices have reached a level where front and forward bids increase and its a matter of whether the buying will outlast the selling. USDBRL is 5.2758 -0.0692 (-1.2947%) and USDCOP is 3,743.8799 +21.53 (+0.58%).