The Cocoa future trades at $2,652 per metric tonne, after ending yesterday at $2,653.
United States Consumer Price Index is next.
This uncertain state for CME Cocoa is reflected by published market data as United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Cocoa's upper Bollinger Band® is at $2,848.58 and the lower is $2,648.62.
The current technical outlook indicates the Cocoa future will continue to ebb sideways within tight ranges for the immediate future.
Meanwhile, mixed performances are seen in other Softs as having closed the previous session at $81.18, Cotton is up 0.92% today to currently trade at around $81.93.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as tomorrow at 12:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of 3%. United States Core Retail Sales expected to decline to -0.1% while its preceding data was 2.3%, data will be available tomorrow at 12:30 UTC. United States Producer Price Index projected to decline to 0.3% while previous data was 0.7%; data will be released tomorrow at 12:30 UTC.
Having soared to a high of $2,853 approximately 13 days ago, CME Cocoa is now trading 7% lower.