Risk aversion is heightened over the possibility that the Fed will be more aggressive due to economic indicator reports showing that the US inflation problem is still serious…
Robusta chart London T11/2022 session on October 6, 2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange reversed to decline. The November spot term decreased by 33 USD, to 2,140 USD/ton and the term for delivery in January 2023 decreased by 28 USD, to 2,139 USD/ton, the reductions were quite strong. Trading volume very high above maverage breast.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. December spot futures fell 6.95 cents to 217.70 cents/lb and March 2023 futures fell 7.00 cents to 207.65 cents/lb, sharp declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by 500-600 dong, down to the range of 46,300-46,900 dong/kg.
Coffee futures reversed losses as USDX continued its rally on recession fears amid high inflation and interest rates ahead of Fed officials’ comments suggesting they will be aggressive at the policy meeting. coming, causing most commodity markets to reverse and trigger a sell-off of net positions in the coffee futures markets.
Meanwhile, the Reais rate increased 0.44% to 1USD = 5,2100 R$ showing the excitement of the Brazilian domestic market with the upcoming presidential election round also contributing significantly as they are strong. The new coffee seller has just finished harvesting.
U.S. stocks ended the session negative, while investors were eyeing a jobs report that will be released today and could signal the next steps of the Fed, after the jobless claims report in the coming weeks. The past week has been higher than expected, showing that the US inflation problem is still serious.
Follow Somar Met. The formation of a low pressure system over the coffee belt in southern Brazil, bringing thunderstorms in many places, will support coffee plants to produce good new crops and increase the groundwater level to help plants withstand the phenomenon of weather. La Nina period at the end of the year.
English (giacaphe.com)
