Unemployment insurance data in the US has warmed the market again with the possibility that the Fed will take a tougher stance on monetary policy coming…
Robusta chart London T11/2022 session on September 29, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. The November spot term decreased by 26 USD, to 2,182 USD/ton and the term for delivery in January 2023 decreased by 23 USD, to 2,175 USD/ton, very significant reductions. Trading volume maintained in maverage breast.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. December spot futures fell 3.00 cents to 225.70 cents/lb and March 2023 futures fell 2.75 cents to 216.85 cents/lb, very significant reductions. Trading volume on average.
The price of green coffee beans in the Central Highlands provinces decreased by 400-500 VND, down to range from 46,900 to 47,500 VND/kg.
Risk aversion has increased again with a recession scenario in Europe and unemployment insurance data in the US showing that a warming job market will make the Federal Reserve (Fed – US) likely to tougher stance on monetary policy, when the possibility of US inflation persists at a high level.
USDX increase by 0.80% has made the Reais exchange rate fall to 1 USD = 5.3930 R$, which is a factor that encourages Brazilians to boost coffee exports because they will earn more local currency.
The General Statistics Office of Vietnam estimates that coffee exports in September will reach 100,000 tons (about 1.66 million bags), down 3% compared to the same period last year. However, accumulated for the whole crop year 2021/2022, coffee exports will increase by 6.14% compared to the previous crop year.
Inventories of Robusta coffee on the London floor, as of Monday, September 26, increased by 2,210 tons, or 2.40% from a week earlier, to registered at 94,350 tons (equivalent to 1,572,500 tons). 60 kg bags), recorded the second consecutive week of increase.
ANhan Van (giacaphe.com)
