Blog

Sugar

• Despite the large producer selling hanging over the market, sugar prices have continued to attempt to press forward.
• Fundamentally, both supply and demand variables will keep sugar in its current range.
• Weather in Brazil and India remains a game changer, with a likely advance into the 12–13 USc/lb range.

Macro/currency commentary

• The AUD traded comfortably above USD 0.71 this week.
• Supported by positive economic data, elevated natural gas, iron ore and coal prices, the AUD looks set to break out of its recent USD 0.70–0.72 range.
• The economic data calendar will be important over the coming months, as the market looks for signs to signal a rate cut.