>>
Home / Knowledge / News / Textiles / Crazy day for cotton

Crazy day for cotton

05
Dec '08
Another crazy day for cotton as the outside markets dictates the direction. European central banks made big cuts of interest rates today that were larger than expected from 75 points to 175 points and now all European banks are lending at 2.5% or lower. These are significant cuts from 4-5% that was in place a couple of months ago. This did weigh on the dollar despite the weakness in commodities.

Treasuries continue to take advantage of the housing crisis concerns as Bernanke and others keep talking about lowering long term interest rates. Volume was average today with only 13,000 futures and 9,000 options as we look to be building a trading range for the H'09 with a high at 48.

Sales and shipments were very disappointing today, but the biggest factor was the weakness in outside markets with energy leading the downside move. The old rule that commodities suffer in recessions will keep us in a downtrend much longer. Especially when foreclosure problems and unemployment look like they will get worse before they get better.. The Federal Reserve looks like they are determined to throw as much money at the problems as possible with the current discount rate essentially at 0 for bank to bank lending.

This will eventually lead to inflation concerns down the road which will require interest rate hikes, but that may be 18-24 months from now.

Technically the dollar is establishing a sideways trading range between 85/88. After the ECB announcement, the dollar did test the highs near 88, but eventually came down hard. The stock market also was weak today as we had the big 3 automakers on Capitol Hill who were not giving very optimistic testimony about the future.

Cotton is starting to build a sideways trading channel as we may be heading back to test the lows before moving higher again. Outside markets are still key and look bearish.

Ecom USA


Must ReadView All

Pic: Shutterstock

Textiles | On 19th May 2022

Vietnam needs to shift economic model to reach high-income status: WB

For Vietnam to realise its aspiration for reaching high income status ...

Pic: Shutterstock

Textiles | On 19th May 2022

IPEF to help enhance economic ties with Indo-Pacific nations: US

The Indo-Pacific Economic Framework (IPEF) proposed by the United...

Pic: Shutterstock

Textiles | On 19th May 2022

EU economy grows in Q1 2022, pace slightly slower than Q4 2021

The EU economy continued to grow in the first quarter of 2022, but at ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Aylin Akyildiz,

Aylin Akyildiz

Established in 1997, Realteks has been providing denim fabric for the...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Ritu Kumar, Label - Ritu Kumar

Ritu Kumar
Label - Ritu Kumar

<b>Ritu Kumar</b> is the most respected designerwear brand in India...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Eurofins BLC Leather Technology Centre Ltd
UBM China (Shanghai)
Recron Polyester from Reliance Industries Limited
Permoda(Koaj/Armi/Pronto/Bkul)
Eastman Chemical Company
Green Fibre
Page Industries Limited (Bangalore)
NV Michel Van de Wiele
Dow Silicones Corporation
Loris Bellini S.r.l.
The Top Form Brassiere Manufacturing Company Limited
Reiter India Private Limited
Benetton Group
Alison Hayes Romania
Thai Trade Center
Kornit Digital Asia Pacific Ltd
Desigual - ABASIC, S.A.
USTER
TÜYAP IHTISAS FUARLARI A.S.
John Varvatos
Jiangsu Yingyang Nonwoven Machinery Company Limited
Vardhman Textile Ltd
Tuyap Tum Fuarcilik Yapim A.S.
Gap International Sourcing Limited
Palexpo SA
Recron Polyester from Reliance Industries Limited
Alix Partners
Lifestyle
Boardriders Asia Sourcing Limited
International Sourcing Expo Australia
BRINKMANN GMBH
Aquarelle Clothing Limited
Cat Tuong Real Estate Group Joint Stock Company
Rayonese Textile Inc., Division de Culp Inc.
Brückner Trockentechnik GmbH & Co. KG
LC Waikiki
Thai Acrylic Fibre Company Limited
Varner AS Retail
OVS Hong Kong Sourcing Ltd.
THE BOMBAY DYEING ;& MFG.CO. LTD
Vianney Textil Hogar S.A. De C.V.
Meera Dyestuff Industries
Etam Group Strategy Hong Kong Limited
Tchibo GmbH
Chori Company Limited
IIGM Private Limited
GHCL LIMITED
Stahl Holdings B.V.,
Zünd Systemtechnik AG
Landmark Group
Babyshop
Nandan Denim Limited
Color Service s.r.l.
PVH Corporation
Messe Duesseldorf
Brandix Lanka Limited
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Shanghai  Aige Exhibition Service Co., Ltd
GIOVANNI BOZZETTO S.p.A.
Indo Tex
Helly Hansen Far East Ltd
Italian Trade Commission
BTSR International S.P.A.
COTTON COUNCIL INTERNATIONAL
Splash
Tradewind International Servicing
Applied DNA Sciences Inc
EPCH
Amazon China
Sateri (Jiujiang) Fiber Co.,Ltd
Truetzschler India Private Limited
Esprit Europe Services GmbH
Phong Phu international JSC (PPJ)
K AND D ITMACH EXPOSITIONS LLP
Maceton Limited
CGS Inc.
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Midas Clothing Limited
Gokaldas Exports Limited
Bluestem Global Sourcing Limited
MAS Active / MAS Kreeda / MAS Bodyline
KAS Direct Sourcing
Weitmann & Konrad GmbH & Co. KG
Mesdan SPA
G.A.S. unternehmenskommunikation gmbh
Lululemon Athletica Inc
Asos
FESPA (Reigate)
Lectra Technologies India Pvt Ltd.
Centric Software
Sportmaster Ltd.
EUROVET ASIA LTD
Itema Weaving (India) Private Limited
Mayer & Cie. GmbH & Co. KG
China World International Exhibition Company Limited
JES MEDIA, INC
ITMA Services Pte Ltd
Nihalani Events Management
Lenzing Aktiengesellschaft - India
FULGAR SpA
Rosset ;& Cia Limited
IFF Media Ag - International Media Services
Savio Macchine Tessili S.P.A.
Taiwan Textile Federation (TTF)
Calvin Klein
Flainox S.r.l.
Woolmark Services India Pvt. Ltd.
C;&A Sourcing International Ltd
Zydex Industries
Huntsman (Singapore) Pte Ltd
G-Star Raw C.V.
Shima Seiki Mfg. Ltd.
Newtech Textile Technology Development (Shanghai) Company Limited
Bluesign Technologies Ag
Guess Europe Sagl,
Abit
VNU Exhibitions Asia
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
The LYCRA Company Singapore  Pte. Ltd
Chico’ FAS
Sainsbury's Argos Asia Limited
Lacoste (Wanchai)
Puma
Arvind Limited
Karl Mayer Textilmaschinenfabrik GmbH
Marzoli Machines Textile s.r.l.
Target Corporation (MN)
Restoque S.A.
Decathlon
Datatex Consulting Srl
Jindal Worldwide Limited
Lenzing Aktiengesellschaft
Aramark Uniform ;& Career Apparel, LLC
Lottmann Communications
TESCO INTERNATIONAL SOURCING LIMITED
SHAHI Exports Pvt Ltd
Colours India Inc
X-Rite Asia Pacific Limited (HK)
DyStar India Pvt. Ltd
J ;& P Coats
IDH – The Sustainable Trade Initiative
ZAITEX spa
Indofil Industries Limited - Specialty & Performance Chemicals Division
Grasim Industries Limited
Xtema - Thomas Lebherz Textilmaschinen
KIABI
H;&M Hennes ;& Mauritz (Far East) Ltd
Gatsby Africa
TEXVALLEY MARKET LIMITED
Hirdaramani International Export Private Limited
Pt. Peraga Nusantara Jaya Sakti
Datacolor AG Europe
Gloria Jeans
Copenhagen Fashion Summit
APLF Limited
Comasia Limited
Istanbul Fuarcilik A.S.
CSGIA(China Screen Printing & Graphic Imaging Association)
Performance Days
NITI Aayog
Tory Burch Hong Kong Ltd
BIANCA
The LYCRA Company Singapore  Pte. Ltd
Officina Meccanica Dora Enrico Srl
Infor (Hong Kong) Limited
BTC Textiles LLC
Seasalt Limited
TESTEX AG, Swiss Textile Testing Institute
Lisa S.P.A.
Aleph Srl
Equinox Impex India
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
GERBER TECHNOLOGY LTD.
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
International Textile Manufacturers Federation
Walmart
Tommy Hilfiger
SYNERGIES HONG KONG LIMITED
DuPont de Nemours, Inc.,
EMBEE CORPORATION
N9 World Technologies Private Limited
Coats Digital Limited
Hela Clothing Pvt Ltd
Under Armour Global Sourcing Ltd
Inter Expo Center Ltd.
Messe Frankfurt Exhibition GmbH
Saurer Textile Solutions Pvt. Ltd.
T.T. Limited
H. Stoll AG & Company KG
Groz-Beckert KG
Groz-Beckert East Asia LLP
Thermore (Far East) Ltd.
BIMBA ;& LOLA SL
Rieter India Private Limited
Sportswear Company Spa
Haelixa AG
IKEA of Sweden AB
Kern – Liebers Textile

May 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search