The ICE 11 raw sugar market rose higher on Tuesday's session open, after being closed on Monday for the Martin Luther King Jr. public holiday in the United States. After a massive speculator liquidation the previous week, bullish sentiment returning to the market pushed the March 2022 ICE 11 contract through the 19 USc/lb barrier to a high of 19.29 USc/lb on Thursday and closing the week at 18.90 USc/lb, up 58 points on the week.
The Australian dollar traded sideways not moving far from its usual range for yet another week, as markets await further news on how the Fed (US Federal Reserve System) and the RBA (Reserve Bank of Australia) plan to attack rising inflation levels in the US and Australia. The AUD traded from a low of 71.70 US cents on Tuesday, up to a high of 72.77 US cents on Thursday before closing the week at 71.82 US cents.
Report current as at 25 January 2022.