FUTURES SUS contract falls sharply
The United States dollar contract fell sharply on the Futures Exchange yesterday as the New Zealand dollar firmed.
The February contract dropped 190 points (a loss of $945 a contract to those short — with selling positions and a similar gain to those long). The March contract, the main one traded at present, was down 135 points, or $675.
The market was fairly quiet, however. In the PCP (interest-rate) contracts, April and May closed slightly firmer, reflecting an easing in interest rates during the day. Dr Brent Layton, futures manager of John Marshall and Company, Ltd, attributed the money-market reaction to the news that the Budget deficit was expected to be $1.6 billion. It was a psychological boost to those long (with buying positions) in PCP contracts, Dr Layton said. In wool futures, prices were up and down, but the near months closed down a little on Monday’s close. The middle months — October to March, 1986 — were largely unchanged, and the distant months firmed slightly. Dr Layton said that a lot of funds were available to be invested in the wool contracts.
yesterday after the movement on Monday. Volume was fairly high for this contract. Details of yesterday’s trading: SUS CONTRACTS Mth Open H/L Last Vol Feb 1.8500 .8500/500 .8500 2 Mar 1.8720 .8720/570 .8630 19 Contracts traded: 21. Open positions at Feb 17: Feb 367, Mar 115, Apr 5, Jun 3, Sep 2, total 492 (up 9). COMMERCIAL BILLS
Open positions at Feb 17: Mar 1073, Apr 360, May 44, Jun 125, Sep 80, Dec 24, Mar 7, total 1713 (down 1).
Open positions at Feb 17: Mar 107, May 341, Aug 198, Oct 214, Dec 212, Jan 224, Mar 301, May 224, Aug 41, total 1862 (down 17).
Mth Open H/L Last Vol Mar 7600 610/580 601 174 Apr 7700 705/700 700 52 May 7780 792/780 792 15 Jun 7865 865/865 865 8 Sep 7860 860/860 860 4 Contracts traded: 253.
WOOL FUTURES Mth Open H/L Last Vol Mar 494 494/493 493 8 May 509 509/509 503 18 Aug 527 527/524 - 524 12 Oct 528 528/525 525 8 Dec 528 528/525 525 9 Jan 526 526/526 526 1 Mar 533 534/531 531 13 May 539 540/539 539 4 Aug 550 550/550 550 4 Contracts traded: 77.
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Press, 19 February 1986, Page 37
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382FUTURES SUS contract falls sharply Press, 19 February 1986, Page 37
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