Wednesday, 31 October 2018
Sugar prices stalled for most of last week, trading inside the 14.00-13.70c/lb range. A mid-week rally saw the MAR19 contract finally break the 14.00c/lb barrier, hitting a 6-month high of 14.24c/lb before closing the week at 13.84c/lb.
The Aussie Dollar closed the week at 0.7096, after testing the lows of 0.7021 on Friday. Unable to break the barrier, the market popped back up to trade inside the week range of 0.7100 to 0.7060. Improving risk sentiment has helped prevent the AUD from pushing through the big psychological 70-cent barrier.