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CTCS DAILY COFFEE MARKET REPORT – 15/08/2018

15th Aug '18

Market close positions & brief analysis from the previous trading day: 14/08/18.
 
CLOSE - NEW YORK ICE:
Sept 18  @  C.105.05    ( - 1.20 )
Dec 18  @   C.108.50    ( - 0.80 )
Mar’19 @  C.111.75    ( - 0.80 )
 
NY ICE Activity:   
Another big volume session but a further ranged affair with values holding into a tight C.1.85 range.  The day started as it continued in spirited activity, opening on NY ICE Sept’18 at C.106.15 initially edging higher, above C.106.50 late morning before moving to the day’s high at C.106.95 at where overhead origin selling countered the move. Values moved into retreat as the selling intensified early afternoon with solid fund based liquidation pegging values back below C.106.00, registering the session low back at C.105.05 at where values closed, under pressure! Volume was huge again at just over 
107k lots.       
 
CLOSE - LONDON ICE:  
Sept’18 @ $1667    (  + 2.00 ) 
Nov’18 @ $1624    (  - 3.00 )
Jan’19 @ $1611    ( -  3.00)
 
LONDON ICE Activity:     
London appeared to again row its own boat, with values holding a tight $13.0 range throughout another busy session… mainly to the downside. We started on LDN ICE Sept’18 at $1668, initially easing to the day’s low on light spec based selling, easing to the day’s low late morning at $1665 at where UK industry support emerged. Values bounced back above $1670, attracting more decisive support from fund based interests, edging to the day’s high at $1678 late afternoon at where fresh overhead selling emerged towards the close. Prices eventually finished an orderly late session back below $1670 in modest positive territory. Volume was good again today at just over 22k lots.      
 
Analysis: 
Not too much to gleam from today’s session that we already didn’t know about! It was a ranged affair on both sides of the Atlantic but again interest was huge!  Fresh positive fundamental again proved thin on the ground allowing values to veer back towards negative territory late session with London  just holding on to modest gains on Sept whilst forward positions dipped in to negative territory. We look for similar action for both markets as we progress the balance week. We shall see. 
 
Key Currencies          /       Previous Day Close                
£/$ = 1.2717                        (1.2760)
€/$ = 1.1342                        (1.1395)
£/€ = 1.1215                        (1.1225)            
 

 

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