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Cotton and Textiles: World


ICE cotton fell in light volume on Friday, remaining rangebound as speculators sat out ahead of the holiday weekend and traders looked ahead to next week's release of a US government world agriculture supply and demand (WASDE) report. "The report is going to give us the next direction," said Peter Egli, director of risk management with British merchant Plexus Cotton. "I don't see the specs coming in on the long side anytime soon. The macro picture doesn't look good. A lot of these guys don't want to play this market - it's too flat."

The fluctuations observed during the day:

ICE cotton futures rose for the first time in five sessions on Thursday after a US government report showed a modest increase in export sales, but traders' eyes remained fixed on a world supply and demand report expected next week. "What the market's waiting on is a bullish confirmation in the September crop report," said Keith Brown, a Moultrie, Georgia-based cotton trader, referring to the US Department of Agriculture's (USDA) forecast for a weaker-than-expected US crop last month.
The fluctuations observed during the day:

ICE cotton futures fell in light volume on Wednesday, hitting three-week lows a day ahead of a weekly US government export sales report amid concerns about demand for US cotton in key consuming markets due to dollar strength. "We're going to wait until the morning to see what the export report says," Louis Rose, an independent cotton trader and consultant at Risk Analytics in Memphis, Tennessee, said of the day's light trade.
The fluctuations observed during the day:

ICE cotton futures hit their lowest levels in nearly three weeks on Tuesday, as weak China manufacturing data revived concerns about growth in the world's No 2 economy and largest consumer of the fibre. "The biggest problem in this market is the demand," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas. "The economy is under attack. That's going to keep a cloud over the cotton market."


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
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