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Posted by Tango
on July 6, 2020, 6:46 am
RC began with selling and a wide opening range. KC opened slightly lower and a little pressure apparently triggered stops which sent the market close to 2c lower. The market bounced back half way and has remained flat and quiet but on the soft side, the depth of market shows some buying beginning to accumulate on the way down. Short covering should come in at 8:00 but will it be sufficient to satisfy the longs?
The $Index is lower as most key and BRIC currencies are higher. USDMXN is 22.244 -0.1475 (-0.6587%), USDCOP is unchanged at 3644.05 and USDBRL is 5.2906 on the CME, -.0237 or -.45%.
Bond futures are lower and equities are sharply higher. Gold is lower while the remaining metal complex is higher. Crude is around unchanged and grains are higher. Sugar and cocoa are lower while cotton is unchanged.