Coffee, Cocoa And Many Commodities On New York Boost As The Weak Dollar

06/02/2018

Reuters from London: Coffee, raw sugar, cocoa and other commodities rose on the New York Stock Exchange. Although the price of coffee on London fell, but the direction of growth on Newyork. If there is a steady upward trend in many commodity markets in New York, there have been several recent sessions in relation to the exchange rate.

About Coffee Market

According to a London-based futures broker, "Traders have historically been less concerned about the US dollar exchange rate, but now the currency is leading the commodities market when many investors muscle back to the market ".

The US dollar index fell below 90 after the US Secretary of the Treasury's remarks, as they wanted to push the weak dollar, to lure the European Central Bank to implement some monetary policy.

Brokers from the London Stock Exchange are also concerned about Vietnam's sell-off if there is a need for cash to cover pre-Tet costs in mid-February and a one-week long holiday. .

However, if the selling force breaks out and domestic prices are likely to be soaring and can maintain a high level for 5½ years to reach VND 47,550, farmers still want to sell higher prices.

Other Commodity Market

On the raw sugar and other commodities markets, prices of cocoa and raw sugar were also pushed up, mainly leading factors in weak exchange rates attracted speculators to buy in these two markets. When brokers say demand for chocolate and raw sugar will grow high in Europe and Asia.

Translated by: Tincaphe.com