Wednesday, 16 June 2021
In this week's Market Update:
- With just a few weeks before the expiry of the July 21 ICE 11 contract, sugar prices were largely impacted by the completion of the index roll, trading sideways. The July 21 contract made its low on Tuesday at 17.30 USc/lb, reaching its high on Wednesday at 17.93 USc/lb, before closing the week at 17.54 USc/lb.
- The Australian dollar traded inside the low 77 US cent range for most of the week, briefly falling to 76.90 US cents before settling back up at 77.08 US cents. This was largely driven by the US dollar (USD) positioning ahead of the US Federal Open Market Committee (FOMC) meeting on 16 June.