Contracts down
Prices of U.S. dollar contracts on the New Zealand futures market fell the equivalent of $1225 and $1375 on lowest prices yesterday, compared with Friday. March contracts were down 245 points and April contracts Gold futures
The New York Commodity Exchange and the Sydnev Futures Exchange. Ltd. ’have signed an agreement to establish an international gold trading link that will lead the futures industry further toward 24-hour-a-day trading. The link is the first transoceanic gold trading system and is expected to open’ later this year if United States and Australian Government agencies give their approval. The agreement was signed at a news conference during the Futures Industry Association’s annual conference — at Boca Raton, Florida.
fell 275 points (lowest prices). Dr Brent Layton, of Marshall Futures, ’ Christchurch, said the falls reflected the very strong New Zealand dollar. The New Zealand dollar reached 5U50.4650 on the foreign-exchange mark before dropping to $U50.4550. The forward-exchange market at present has a one-month premium of 400 points: this means it is costing 4 U.S. cents to hedge each N.Z. dollar one month forward on this market. Wool-futures prices slipped again yesterday, and are now about ilc a kilogram down on last Thursday's prices.
SUS CONTRACT 85 Open HL Last Vol Mar. 2.3000 .3010, ’700 .2750 26 Apr. 2.3400 .3400 .3110 .3125 45 May — — — June — — — — Sep. — — — — Dec _ — — — Contracts traded: 71.
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Press, 12 March 1985, Page 26
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226Contracts down Press, 12 March 1985, Page 26
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