The Suspension Of Trade Between The United States And Myanmar May Reduce Myanmar'S Import Of Chinese Cotton Yarn

 

At present, the arrival price of emot m in the United States is 92.5 cents / pound, that of India's s S-6 1 / 8 is 88.25 cents / pound, and that of Brazil's M is 92.05 cents / pound. Compared with the previous trading day, the arrival price of foreign cotton has remained stable.

 

At present, the market continues to pay attention to, and US President Biden is about to deliver a speech on the $3 trillion infrastructure project. At present, the United States vaccine promotion vaccination and large-scale economic stimulus plan support the market for the recovery of the US economy, which makes the recent US dollar price index continue to rise, forming pressure on the commodity market to a certain extent.

 

After the bloody conflict on Myanmar's army day, the United States and Myanmar suspended trade exchanges. In 2020, Myanmar exported 445 million US dollars to the United States, accounting for 0.5% of the total import of US textiles and clothing, but its share increased by 31.245. In 2019, China exported 2.495 billion US dollars of textiles to Myanmar, accounting for 2.07% of China's total textile exports, ranking 13th among textile exporting countries.

 

The suspension of trade between the United States and Myanmar may reduce Myanmar's import of Chinese cotton yarn. Cross Yang star, the main cotton contract of ice futures, closed at 80.63 cents / pound, up 0.17 cents / pound or 0.21% over the previous trading day. From the technical point of view, MACD green column shrinkage, diff and DEA exposure narrowed, KDJ index turning head upward quasi alloy fork, technical indicators are in a weak position.