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Commodities and Currency News

   




Cocoa Market
At the end of June the market was still heading upwards and did breach the £1800 level briefly. However early in July, there was a major correction which reflected some profit taking. However, typically during the summer, volumes were thin until the end of last week, when some strong volume caused a steep correction, which has now eased back again this week.
Fundamentals remain much the same, with upward pressure still seen, major buyers though seem to be taking small advantage yet of the occasional drops in the market.

Currency
Sterling continues to remain in a fairly narrow band, so not much to report other than the continuing economic doomladen forecasts!

General
Oil prices have fallen back from the highs early in July.

Tony Mycock 5.8.08

 
 
 
HB Ingredients
Cocoa House, 22 Bell Lane,Bellbrook Industrial Estate, Uckfield East Sussex. TN22 1QL.
Tel:+44(0)845 88 00 799 Fax:+44(0)845 88 00 833
e-mail: sales@hbingredients.co.uk Website: www.hbingredients.co.uk