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Posted by Tango
on May 28, 2020, 6:55 am
Prices began with an unchanged high and with selling. The market has remained subdued since. Yesterday, volume reached almost 50k with a range of 4.55c as intense selling encountered equally intense buying in the front months as well as in forwards. A sop was just hit setting new lows for now. The depth of market continues to show buying lined up as mostly specs sell to commercials. 8:00 will likely continue selling as July increasingly becomes the focus of liquidation. The July OI, although low to begin with compared to past months, is still high compared to what it has been.
Key currencies are are mixed and rendering a slightly lower $Index while most BRIC currencies are higher. USDMXN is 22.3443 +0.0563 (+0.25%), USDCOP is unchanged at 3,730.8999 and USDBRL is 5.3056 on the CME +.0306 vs last nights close, +.60%.
Bond futures are mostly higher and steady, equities are mixed and metals are higher. Crude is lower and grains are mixed. The softs are all lower.