Tuesday, 09 October 2018
Sugar prices increased markedly during the past week, with the MAR19 contract price finishing at its high for the week of 12.70c/lb on Friday, after posting its weekly low of 12.07c/lb on Tuesday. Bullish sentiment was present throughout the period, mostly driven by the rally in crude spec-short covering and strength in the Brazilian Real.
The Aussie Dollar started at a high of 0.7224 and gradually decreased over the week to finish the period at a low of 0.7071. Mixed domestic data, ongoing RBA benignness and trade-war tensions continue to weigh on the AUD.