The Depreciation Of The Dollar Once Again Led To A Surge In Commodity Prices.

Overnight, due to the depreciation of the US dollar, a new low of 09 years since December, while the purchase from China is still strong. The US cotton export weekly shows that the US cotton exports 629 thousand and 100 packs a week (137 thousand tons), while the Sino US cotton price still has a huge price difference. The strong competitiveness of the US cotton prices is the main factor for the rise of trade buying. Under the many favorable factors, the fund continues to buy cotton and make the US cotton market hit the limit. The final contract in December ended up 4.93 cents to 140.45 cents / pound, continuing the long-term upward trend and continuing to refresh the new high since the civil war.

At present, the fundamentals will not change significantly in the short term, and the depreciation trend of the dollar will continue, so that the future ICE cotton is expected to continue to rise under the impetus of business and fund buying.

Technically,

At present, Zheng Mian is above.

Commodity prices skyrocketed, ICE cotton has been unable to predict the absolute price.

The international market rose sharply last night, and the US dollar fell below the level since the beginning of December last year. The ICE cotton market touched a further 5 cents trading limit, and its closing rate also surged to a record high.

Last night, investors in the international market responded positively to the $600 billion quantitative easing policy announced by the Federal Reserve on Wednesday. The dollar fell below the level since the beginning of December last year, triggering a surge in the stock market and commodities, of which cereals rose 2.6%, soft commodities rose 2.2%, and sugar rose 5%.

Silver futures rose 6.2%, a 30 year high.

Gold futures rose 3.4%, hitting a record high of $1384.80.

Crude oil futures rose 2.1%, to close at $86.49 a barrel, a 7 month high.

US stocks rose nearly 2% on Thursday, almost recovering the losses suffered since the collapse of Lehman brothers.

As expected, the Fed's move has become a booster for further growth in commodities.

On the basis of cotton, the export data released by USDA on the week ended October 28th showed that the signing of the US cotton contract increased by 1 times as much as that of the previous week, to 127 thousand and 200 tons, of which China signed 74 thousand and 700 tons as the first buyer. It is also the largest week of the single week signing in China since the year.

Zheng cotton yesterday morning to explore the sharp fluctuations in the market, the afternoon reduced significantly, the price is substantially stronger, closing price hit a new high, the trend of the market will continue to strong, the underlying high prices gradually recognized by the downstream enterprises, the expected tension is further aggravated, and so on, will continue to boost prices, and as of yesterday, the cotton production period cotton nearly 700 yuan, the trend of the market, 30 thousand may only be the psychological price.