Led by a strong December that rallied 264 points to close at 68.09 cents, New York cotton futures trended higher this week.
Nearby supply worries and positive chart signals combined for a strong performance in the cotton market this week, pushing December to its highest close since July 23.The spot month crossed above its long-term downtrend line dating back to early May, when the current bear market originated. In doing so, it also moved above its 20-, 40- and 50-day moving averages and turned
In the week ended 5 September, crude oil prices climbed more than US$2 early in the week as the markets bounced off several month lows hit in the previous week. Also prospects for peace in CIS and a strong US data raised demand expectations. Weaker US$ and expectations of a decline in US crude stocks also supported prices. However, the oil complex settled lower on the week after a ceasefire agreement in Ukraine helped minimize risk premium, while concerns remain over the impact of Russian sancti