The US $ in EURO
1,1780

What happened this week: The market tried to sort out the problems of the previous week. Until mid of this week the USD decline continued when profit taking on the  US currency took place and the USD was able to recover a bit. The problem remains, that the market does not really know where and how to settle. At this time of the year the European  tanning industry has mostly covered their needs until the holidays and with the constant pressure and decline in USA and now also in Australia etc. tanners feel scared to commit, despite many feel, that prices have reached interesting levels on a long term basis. A classical market situation where emotions are running high. Tanners with a good order book try now to hit the bottom to generate the maximum from the present market decline, while the others with insufficient orders don’t really care as they have little to loose. The biggest problem in Europe and in particular in Germany is the very low kill. This creates the perverted situation, that

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