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Posted by Tango
on June 1, 2020, 6:45 am
Buying at the opening seems to have sustained prices right above unchanged. But for now any sense of direction is unknown. The market is quiet and in a narrow range. The depth of market is balanced in the front with scattered bids in the forward months beginning slightly below current levels. On Friday the market showed continued weakness in a 4.2c range and elevated volume as mostly managed money sold, if true to the COT. Today we will likely see a resumption of selling unless other spec sectors intervene.
The $Index is lower as all key currencies are higher. The Yuan and other BRIC currencies are also higher. USDMXN is 22.0405 -0.127 (-0.5729%), USDCOP is unchanged at 3726.00 and USDBRL on the CME is 5.3299 -.006 vs the 5.3360 spot close, or -.11%.
Bond futures are lower, as are equities. Gold is lower while other metals are higher. Crude and grains are lower. Cotton and cocoa are lower while sugar is higher.