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Public Speaking ICE Cotton: Market Temporarily Stable &Nbsp; Phase Cotton Rebound (5.24)

2010/5/24 12:10:00 81

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The market atmosphere is higher in the cotton market.

At the end of the weekend, the U.S. shares rebounded sharply after a series of relatively good news spats to boost the U.S. dollar, while the US dollar was at the same time.

index

The low commodity market caused most of them to rise. The cotton futures in the ICE period were lower than the previous trading day.

After the market crashed last Thursday, the US stock market closed up on Friday, and the road index was over 100 points. On the news side, the upper and lower houses of the German parliament approved the share that Germany should take in the rescue plan, pushing the euro to stabilize. Meanwhile, the US Senate passed the largest financial management reform series financial legislation since 1930s, remodeling the supervision of the financial system.

To raise pparency of fiscal policy and raise the financial sector generally, but for the market, we will pay close attention to the possible raising interest rate measures of the Federal Reserve. On the same day, Cohen, vice chairman of the Federal Reserve, said that when the economy could provide guarantees for the rising borrowing costs, the Fed would start raising interest rates for the first time in nearly a year.

In the international cotton market, China may continue to increase import expectations at the end of the year, but it will get support. However, the position of CFTC fund shows that as of May 18th, the total position increased by more than 7000, but the speculative net rate dropped by 1.92 percentage points to 16.50%.

Zheng cotton on the weekend near the far, near strong, far and weak pattern. In September, under the good theme, 18010 yuan in the day to buy strong support, continue to rise, closing prices hit a new high in history, weather, spot still strong support for the disk, the policy was convened by the NDRC last Thursday.

cotton

There was no substantive news and limited impact on the market.

Many of the operations continue to hold, and the early winners can still wait for opportunities to intervene again. Prudent people may continue to buy 9 selling 1 Basic arbitrage operations.

(pioneering futures Dong Shuangwei)

Cotton prices are expected to continue to rise.

ICE cotton futures rose slightly on Friday. The most active July contract rose 88 points to 82.97 cents.

Last week, the cotton market continued to have a good rebound trend, and the trend was stronger than the surrounding commodities.

The market as a whole is still supported by many fundamental aspects. On the one hand, China's demand is higher, and China's domestic demand for cotton is better.

quota

The issuance of cotton prices and the rise in China's domestic cotton prices led to the relatively weak trend of the US cotton, following the domestic cotton prices and coming out of a wave of rebound.

On the other hand, India has banned exports. Although the ban has been abolished, the export of cotton according to the licence is more meaningful than practical significance. It is unlikely to increase the supply of cotton in the international market.

domestic

Zheng cotton futures

Strong performance, almost no adjustment, showing a unique skill in commodity futures, which also shows the current cotton market situation, cotton prices remain high, and continue to rise, plus cotton yarn demand is still good, textile enterprises actively replenishment, and cotton enterprises but not much inventory.

In the short term, cotton prices are still expected to be stronger than the surrounding commodities, and cotton prices are expected to continue to rise.

(Haitong futures Zhengzhou Sales Department: Zhang Jianwei)

The external market stabilizes, and the US cotton market rises.

On Friday, the ICE cotton contract for July opened 81.60 cents, fluctuating between the 81.54-83.21 and the US. Due to the weakness of the US dollar and the rise of US stocks, the commodities on the outside market all stabilized, and the US cotton rose by 0.88 cents, reaching 1.07%.

In July, the US cotton closed a line on the 10 day moving average, running through other average lines, and continued to be in the balance area. Under the premise of stabilizing commodities, cotton futures are expected to rebound upward.

In terms of fundamentals, the fundamentals of the United States and cotton have not changed much. China maintains a certain amount of imports every week, but it still takes a certain time to complete the import. Therefore, the export situation of the US cotton continues to improve. The strong demand for the downstream will be the strong support of the US cotton company.

On the international macro side, the US financial reform program has been adopted, resulting in a four consecutive decline in US stocks and the first signs of a rebound. On the other hand, the European debt crisis has also been temporarily eased. Therefore, in the face of macroeconomic stabilization, the US cotton will return to fundamentals and rise.

On Friday, Zheng cotton appeared near strong and weak. In January, the contract fell 150 points, while the September contract rose strongly by 70 in recent months. This was mainly due to the fact that the September contract was driven by the rise in spot prices and the speculation in the speculative market. So before September, there was still a sharp rise in September, while January was temporarily left behind.

On the operation, many of them continued to hold in September.