QSL Market Update, 29/6/2022

The current market is trading in a very volatile environment with the prompt JUL22 ICE 11 contract about to expire. Following most commodity markets, raw sugar continued to lose steam last week, falling from the small recovery last Monday of 19.00 USc/lb to finish the week on Friday at a low of 18.23 USc/lb. Our focus turns now to the OCT22 contract that closed the week trading at 18.31 USc/lb.

The Australian Dollar (AUD) remains weak under inflationary pressures and the consequences of a series of interest rates hikes from G10 currencies worldwide. The AUD fell from a high of 69.96 US cents last Monday down to a low of 68.69 US cents last Thursday.

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