This week is another exciting week, especially for one our traders Ailsa, La Reina de la Castaña, the person behind our international sales strategy with Brazil nuts, prunes and Chilean flame raisins. She goes off on maternity leave to start her new family with her husband, Benji. We are very much excited for both of them and the wee one. Brazil nuts will be handled by Ishan with Sanjoy’s help, and Adam Johnston will be handling prunes and flame raisins. We can hardly wait till she gets back from her maternity leave !
Tough bullets to chew from – Massive volatility remains with the Euro. It shop up to FX1.10 last week against the dollar out of nowhere, but next morning was back to FX1.06. A lot of nervousness perhaps because of net euro shorts in the market.
Yellen, Chair of the Federal Reserve, signaled she’s in no hurry to raise rates, suggesting the central bank is unlikely to move before the end of April and that borrowing costs will remain low for a “long time†after liftoff. |Subsequent to the relatively dovish comments from Yellen sent the dollar spiraling, the euro gained more than 1.5% against its American counterpart on Friday to end the week at 1.0824. Last week at this time, the euro plunged to 1.05 — reaching an 11-year low…Rich Ol’ Uncle Sam, Poor Ol’ Europe.
Markets – Sales continue to remain slow. Let’s look at almonds for example; record prices remain with almonds especially in Euroland, as the dock continues to see a slowdown.
Our team also got together on Friday morning to witness the fantastic solar eclipse.
