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[ICE cotton futures performed stronglycryptocrashgame, the weakness of the US dollar fueled the rally] ICE cotton futures are experiencingcryptocrashgameAfter falling nearly 4% on Tuesday, it achieved a gain of about 1% on Wednesday. The increase was mainly driven by speculative buying, while the weakening of the US dollar also provided support for the market. A partner and analyst at VLM Commodities pointed out that the market's rise has nothing to do with fundamentals and is more driven by algorithm-based technical exchanges. In the past week, the market has witnessed a lot of algorithm-based selling pressure, a rare phenomenon in recent times. On the other hand, the key U.S. inflation index grew lower-than-expected, boosting market expectations that the Federal Reserve may cut interest rates this year. In the international crude oil market, prices fell to an 11-week low, mainly due to the International Energy Agency (IEA) data showing that crude oil demand in developed countries may weaken this year, causing crude oil prices to fall. This decline indirectly reduced the production cost of cotton substitute polyester and had an impact on the cotton market.
