FUTURES SUS contract slips as kiwi moves
American dollar futures slipped sharply yesterday as the New Zealand dollar climbed sharply on the Wellington foreign-ex-change market late in the day. The October U.S. dollar contract was 80 points down at the close com-' pared with the Friday close. This represents SNZ4OO a contract In other contracts: © Commercial bill futures were slightly firmer. October was 10 points up on Friday (on closing prices), and December
was 20 points firmer. ® Government stock futures were one to three points firmer at the close on Friday’s last prices. • Wool futures were easier in most months. Mr Mark Thiele, of Egden Wignail Futures, said the closing of the December Government stock contract one point off its low confirmed his firm’s view that the market was vulnerable on the downside (to fall) in the next two months. When prices lifted they were striking a major resistance level at 8430.
He expects U.S. dollar futures to fall today before a correction upwards.
The Egden Wignall Futures staff, strong chartists, think the New Zealand dollar is headed for 51 U.S. cents, although there will be sell-offs on the way. PCP (commercial bill) futures are at too low a volume and moving insufficiently to give the chartists a direction. Details of yesterday’s trading: SUS CONTRACTS Mth Open H/L Last Vol Oct 2.0620 .0620/495 .0500 59
Contracts traded: 59. Open positions at Sep 26: Oct 409, Nov 25, Dec 2, Jan 2, Mar 3, total 441 (up 41). COMMERCIAL BILLS Mth Open H/L Last Vol Oct 8450 450/445 445 6 Dec 8460 465/460 460 23 Contracts traded: 29. Open positions at Sep 26: Oct 334, Nov 64, Dec 642, Mar 350. Jun 128, Sep 48, Dec 45, Mar 47, Jun 11, total 1669 (down 5). GOVERNMENT STOCK Mth Open H/L Last Vol Oct 8426 427/419 419 73 Dec 8426 430/418 419 351 Contracts traded: 424. Open positions at Sep 26: Oct 648, Nov 32, Dec 1295, Mar 63, total 2038 (down 197). WOOL FUTURES
Contracts traded: 16. Open positions at Sep 26: Oct 51, Dec 203, Jan 308, Mar 545, May 452, Aug 249, Oct 215, Dec 116, Jan 161, Mar 91. total 2391 (down 34). WHEAT Mth Open H/L Last Vol No contracts were traded. Open positions at Sep 26: Feb 15, Mar 27, May 19, total 61 (same). Sydney September share price index futures, which went off the boards yesterday, closed 0.1 points up at 1258.7, a premium of 2.3 points to the physical market
Mth Open H/L Last Vol Dec 555 555/555 555 2 Jan 557 557/557 557 2 Mar 558 558/555 555 4 May 555 565/562 562 4 Aug 568 568/563 568 2 Oct 574 574/574 574 2
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Press, 30 September 1986, Page 20
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451FUTURES SUS contract slips as kiwi moves Press, 30 September 1986, Page 20
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