• Weekly Market Report 30 October 2017 30 October 2017

    Sugar

    • Raw sugar futures broke free of recent range bound conditions on Friday night, posting three per cent gains on the day.
    • Prompted by technical indicators, the rally sustained higher over the remainder of the session to settle near fresh highs.

    Currency/macro comments

    • A resurgent USD has seen the AUD fall two cents over the past week.
    • USD has continued to firm on the likelihood of Trump tax reform getting up.
    • The new Fed Chair will be announced in coming weeks, with the leading candidates both considered more hawkish than the incumbent.
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  • Weekly Market Report 23 October 2017 23 October 2017

    Sugar

    • A choppy week for raw sugar futures, prompt Mar18 rejected at attempts to break recent technical resistance at 14.40 USc/lb.
    • Prices have remained range bound as the well-known market levers continue to offer no fresh directional change.

    Curency/macro comments

    • USD strength returned to the forefront last week with increased likelihood that US President Trump’s tax reform will get up.
    • Steady gains made on positive local employment data stalled, with the AUD being shunted to the bottom end of USD 0.78.
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  • Weekly Market Report 10 October 2017 10 October 2017

    Sugar

    • A choppy week for raw sugar futures, with prices tracking higher before settling lower.
    • Ethanol parity remains solid above current market levels, so we expect yields to slip somewhat for sugar.

    Currency/macro comments

    • USD continues to garner strength as the likelihood of a December rate hike increases.
    • AUD was naturally weaker, printing fresh three-month lows at USD 0.7733.
    • The RBA left rates on hold – as expected – with little change in the way of commentary.
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