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Re: Rain forecast Brazil - 10/03/2020 to 10/19/2020
As funds will continue to sell, buying will come from delta shorts. Below the market, there are many bids lined up extending to Dec22 which I suspect is consumer related. Your link is a very stark reminder of a pandemic that is out of control. Even NYC is showing increased cases. There is also the macroeconomic picture which mostly index funds have been watching and it is slightly positive presently. Right now the market is -1.35c and selling is on the menu at 8:00. We’ll see how well the buyers will support prices. USDBRL on the CME is 5.6672 -.0160 and USDCOP is unchanged at 3869.75.