Wednesday, 27 February 2019
ICE 11 contracts resumed trading last Tuesday, and with it sugar prices rallied reaching the 13c/lb handle. Mar19 made its low on Tuesday at 13.14c/lb and its high on Wednesday at 13.50c/lb, before closing the week at 13.37c/lb. The main driver for the rally appears to be an increase in ethanol prices, which followed gasoline prices at the pump in Brazil.
The Aussie dollar traded in a rather dull range over the past week, moving between 0.7070c and 0.7183c. It closed the week at 0.7140c, as risk sentiment firmed and higher commodity prices helped lift the AUD to the upper end of its range.