Tomorrow’s o.i. will be watched closely as will the COT on a reporting week when total open interest increased by 8,091 lots and the market had a net gain of 140 points.
In light of recent performances, March came in like a lion, as New York kept pace with Robusta to settle at 123.95 for a gain of 1.95 points, while London accreted $44 settling at 1768 basis May. London saw 159 lots issues on First Notice Day as open interest in March decreased by 3,668 to stand at 3,348 lots. HK weakened by $7 yet remained inverted closing at 39 over while KN traded $4 dearer to settle at 26 under. KC rallied at a steady pace on what appeared to be some risk parity unwind along with short term systems buying as the market crescendoed to trade an 8 day high and settle 10 points off the pinnacle of the day. Open interest increased by 2,595 lots on yesterday’s .90 point pop and curiously also increased by 2,756 lots on Monday’s .80 point gain while most expected a decrease due to some short covering. Inquiring minds wonder whether there have been new outright or spread longs or a combo of both. Tomorrow’s o.i. will be watched closely as will the COT on a reporting week when total open interest increased by 8,091 lots and the market had a net gain of 140 points.
Write something about yourself. No need to be fancy, just an overview.