May ICE NY cocoa (CCK26) closed up 121 ticks (+3.67%) and May ICE London cocoa #7 (CAK26) closed up 85 ticks (+3.53%). Cocoa recovered from early losses and rallied sharply after a 0.47% decline in the dollar index ($DXY) triggered short covering. The move reflects short-covering/positioning flows tied to FX weakness rather than fundamental supply news.
May ICE NY cocoa (CCK26) closed up 121 ticks (+3.67%) and May ICE London cocoa #7 (CAK26) closed up 85 ticks (+3.53%). Cocoa recovered from early losses and rallied sharply after a 0.47% decline in the dollar index ($DXY) triggered short covering. The move reflects short-covering/positioning flows tied to FX weakness rather than fundamental supply news.
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Request DemoOverall Sentiment
mildly positive
Sentiment Score
0.30
