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Posted by Tango
on June 10, 2020, 6:43 am
Selling was present at the opening and the market then stabilized at mid value. It has remained quiet and essentially at a level where it remained for most of the day yesterday. Volume was again high yesterday at 67,286 lots but outright volume accounted for 20% of this total. July was 26% outright and Sep 20%. The OI has been dropping, making the theory that the market would move higher when this occurred invalid. July liquidation was not taken into consideration and the market still feels as if funds are still selling. For now July liquidation is the focus. The market is now back down near the lows of the morning.
The $Index is lower as most key currencies are higher. The BRIC currencies are mixed. USDMXN is 21.8207 -0.081 (-0.3698%), USDCOP is 3,653.50 +5.31 (+0.15%) and USDBRL is 4.8815 on the CME -.0183 vs the closing spot price, or -.37%.
Bond futures continue to climb weakening equities, except for tech stocks. Gold is slightly higher while other metals are lower. Crude is down while grains are mixed. Sugar is a tad higher while cocoa and cotton are lower. image upload