While Coffee is on a 3 day uptrend Today's session might suggest a slow down — ICE Coffee trades at $168.65 per pound, after ending yesterday at $168.9.
Uncertainty around the Coffee future is reflected by published market data as highly important Consumer Confidence data from United States beat analyst expectations of 100 with a reading of 100.2. United States API Weekly Crude Oil Stock came out at -7.85 million, while a consensus of analysts was expecting -2.49 million. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) released yesterday at 14:00 UTC with a figure of 10.4, while the previous figure was 13.1.
Meanwhile, mixed performances are seen in other Softs as Cocoa is down $13 from the beginning of the session and now trades around $2,467. Cotton is down 29 cents from the beginning of the session and now trades around $80.32.
Furthermore, the market is looking at United States Pending Home Sales is projected to outperform its last figure with -5%, having previously been at -10.2%. The figure will be published today at 15:00 UTC. United States Core PCE Price Index (MoM) (Oct) will be released tomorrow at 13:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -2.76 million. It previously stood at -3.69 million; data will be released today at 15:30 UTC.
Having set a significant high of $258.7 13 days ago, the Coffee future is trading 10.61% lower.