Sugar faced improved interralations with other agricultural commodities

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Source: Dukascopy Bank
© Dukascopy Bank

Sugar faced sharp decline in the correlation with other agriculture commodities and the pair EUR/USD in the beginning of the year as sugar price was growing on China's plans to increase its sugar stockpiles. At the same time, link with wheat, coffee and corn improved this week after mass fall in the commodity group prices caused by the US crop report. However, the correlation coefficient remained in a negative territory. Sugar relations with Standard Poor's SP500 (SPX) stayed stable over the week while sugar's tie with the pair EUR/USD faced upside trend bouncing from negative territory from minus 0.01 to 0.03 after the Euro appreciated against the US dollar on the negative headlines from the US.

 

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Mon, 16 Jan 2012 16:48:56 GMT

Energy commodities fell amit easing tensions regarding Iran

Energy commodities continued to tumble on Friday with Dow Jones-UBS Energy Index falling by 0.56. Crude oil erased gains occurred in the beginning of the week and closed on Friday with 2.8% decrease. Crude oil mainly was impacted by easing tensions between Iran and Western economies, by raising US energy stock levels and by credits cuts in the Euro Zone. 

Mon, 16 Jan 2012 16:47:49 GMT

Agricultural commodites continued falling after US crop report

Agriculture commodities tumbled on Friday following fall in grain commodities after the US crop report indicated higher than expected stockpiles. Even adverse weather conditions in South America were unable to limit the losses. Sugar futures were the most resilient edging down only 0.11%. However, sugar continues to face downward pressure from higher than expected output in Brasilia and Russia coupled

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