December 26 cotton Morning Comments
Cotton (11760, -60.00, -0.51%,) (basic): As the United States on the 20th week the number of unemployed increased to 586,000, in November durable goods orders declined by 1 percent, consumer spending fell for five consecutive months, the market as a whole demand conditions. January to October this year, China’s textile industry, fixed-asset investment growth slowed down over the same period, in which the overall slowdown in the textile industry, textile and garment manufacturing industry growth rate of decline in regional investment imbalances, while export and import growth slow; affected by the newthe policy implications of seed cotton prices in recent days, the cash market steady, demand changes in market outlook and prospects for the new fiscal year will be the cultivation of market moving an important factor, the recent statistics show that China’s cultivated area within the next quarter will be reduced by about 20% expected the market will bring to the potential impact of benefit. (Technical): Zheng yesterday rebound trend continuation cotton futures prices on average 60 days break repression, intraday transaction volume increased by 2 positions over a thousand hands, technically the trend of the current rebound to maintain a good, positive short-term policy to support the market strong, shortly after the price will remain will continue to shock. (Operation recommendations): wait-and-see appropriate.