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Posted by Tango
on June 2, 2020, 7:12 am
As we see on the accompanying chart, there is a familiar pattern in which buying continues to attract selling. The market is steady and is continuing the steadyness displayed yesterday as it bounced from the 95.00 level after the release of the OI report. The depth of market is balanced and it is uncertain what 8:00 will bring. It depends on how dedicated funds are to their selling program, or will they be covering shorts. Any strength however, will be met with resistance.
Key currencies are mixed rendering a lower $Index while BRIC currencies are higher. USDMXN is 21.813 -0.211 (-0.958%), USDCOP is 3,716.3999 +6.26 (+0.17%) and USDBRL is 5.3292 on the CME, .0373 lower than the spot close, or .70%.
Bond futures are lower while equities are again higher. Gold is at a standstill and crude is higher. Grains are unchanged, sugar and cotton are higher while cocoa is lower.