• QCS Market Report 17 December 2018 17 December 2018

    Sugar

    • Still not much new news about for sugar.
    • Price action was highlighted by a weaker opening, but closed unchanged on Thursday night, remaining largely in line with oil and outside markets.
    • Harvesting conditions in India have been favourable to date—some reputable market intelligence sources are now revising their 2018–19 estimates higher on a better-than-expected Indian crop.

    Macro/currency commentary

    • A disappointing end to the week for the AUD, struggling to hold a USD 0.72 handle on Friday night, thanks mostly to weaker Chinese economic data and heightened concerns for global growth.
    • Looking ahead, this week’s economic data calendar is full of excitement and announcements.
    • The US calendar is highlighted by the FOMC rate announcement on Thursday morning, with the market pricing a 75 per cent chance of a 25 basis-point rate hike on Thursday.
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  • QCS Market Report 5 December 2018 5 December 2018

    Sugar

    • Along with oil prices, sugar prices look to have stabilised in the last week.
    • Despite breaching a key 12.50 USc/lb level, sugar prices roared back toward 13 USc/lb later in the week.
    • With many of the northern hemisphere crops coming online now, much of the market’s attention will be focused there.

    Macro/currency commentary

    • A big week for the AUD, following comments from the US Fed, which prompted a rally back above USD 0.73.
    • The G20 summit held in South America over the weekend was highlighted by developments between China and the US on trade, with a 90-day window opened to see if they can come to an agreement on their differences.
    • Continued positivity on the trade front should continue to see the USD under pressure with the AUD likely to test USD 0.74.
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