Raw sugar futures continued to slip over the past week, leading to another week of losses.
With the recent month’s activity, the market has been as lively as ever.
India now moves into its most active period, with exports tipped to kick off throughout the Australian summer.
Following the failed attempt to break 13 USc/lb, sugar now appears vulnerable to a move lower, depending on Indian exports, which could surprise to the upside.
Macro/currency commentary
The AUD had another solid week, closing near the week’s high above USD 0.73.
Price action was mixed early in the week, with the AUD surging into higher ground from a stronger-than-expected local employment print.
Paired with weaker US yields and the broader USD, the AUD continued to trade positively.
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