EU Slashes Sugar Subsidies
The CME and CBOT closed early today,
while NYMEX and the NYBOT were both closed. No economic news was released.
Post-holiday/pre-weekend trading was very light with most of
the major futures contracts either closed or trading shortened sessions. Not
surprisingly most traders chose to take a 4-day weekend and very little
institutional activity was witnessed today.
The European Union finally agreed to cut massive subsidies
paid to sugar farmers by 36% after a complaint by WTO members.
Treasuries rose with traders citing a
possible end to the Fed’s policy of raising rates behind the move.
The US Dollar hit a 27-month high versus the Japanese Yen
after Japan’s finance minister warned that deflation still “persists.”
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No economic news today.
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