• Weekly Market Report 26 September 2017 26 September 2017

    Sugar

    • Softening over the week, raw sugar futures opened at the high before closing below the 14-USc/lb handle sustained in the last month.
    • The soon-to-expire Oct17 contract was the biggest loser, down nearly 4 per cent on the week.

    Currency/macro comments

    • Further clarity around the Fed’s balance sheet normalisation stalled AUD strength this week.
    • The AUD was rejected above USD 0.81 and eventually closed lower.
    • Expect the AUD to sit tight in the current AUD 0.79 – 0.80 range this week.
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  • Weekly Market Report 19 September 2017 19 September 2017

    Sugar

    • Raw sugar futures finished up on a positive note last week.
    • Largely led by funds reducing record net short positions, the fundamental backdrop remains somewhat muted.

    Currency/macro comments

    • Despite a down-trending week, the AUD maintained an USD 0.80 handle in to the week end.
    • Local employment data continues to outperform, though AUD appreciation stalled on weaker Chinese data.
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  • Weekly Market Report 12 September 2017 12 September 2017

    Sugar

    • With a shortened week owing to the US public holiday on Monday, raw sugar futures traded positively to the week end.
    • Despite weather concerns in the US and further gasoline price hikes in Brazil, sugar positivity persisted.

    Currency/macro comments

    • The AUD posted fresh two-year highs this week (USD 0.81) as concerns for another rate hike by the US Fed this year shortened.
    • As expected, the RBA left interest rates on hold, maintaining comfort with the current view on policy.
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  • Weekly Market Report 4 September 2017 4 September 2017

    Sugar

    • A volatile week for raw sugar futures, which posted fresh four-week highs before being washed down in the final session of the week.
    • The front Oct17/ Mar18 spread strengthened to –61 points as we near the Oct17 contract expiry.

    Currency/macro comments

    • A choppy old week for the AUD, failing at two attempts to surpass USD 0.80.
    • Better-than-expected US GDP and employment data saw the USD gain ground, but this was short-lived as the AUD bounced back on Friday night following a soft US Payrolls print.
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