Arabica Coffee trades at $183.05 per pound, after ending yesterday at $183.
Coffee's state is reflected by market data as United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts. Following a previous reading of 242,000, Initial Jobless Claims in United States released yesterday at 12:30 UTC fell short of the 245,000 figure expected by analysts with an actual reading of 264,000. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.50 trillion, while the previous figure was 8.50 trillion.
Coffee's upper Bollinger Band® is at $200 and the lower is $178.57.
Despite muted price action in Arabica Coffee, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances are seen in other Softs as Cotton goes up 0.53% to trade around $80.04. Having closed the previous session at $26, Sugar is up 0.42% today to currently trade at around $26.13.
Arabica Coffee is now trading 21.11% above the significant low ($151.1) it slumped to 3 months ago.