Having gone up 63 cents over the past 5 days, Consistent for now — after closing the previous trading day at $19.59, Sugar is up to $19.71 per pound, which makes for a move of 0.61%/12 cents today.
Uptick comes while some more positive signs for ICE Sugar are out as United States Initial Jobless Claims beat analyst expectations of 215,000 and the previous reading of 206,000 with new data of 205,000.
At the same time, United States Consumer Price Index released yesterday at 13:30 UTC with a figure of -0.1%, while the previous figure was 0.1%. United States Core Consumer Prices came out at 0.3%, while a consensus of analysts was expecting 0.3%.
Japanese candlestick formations show 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end.
A look at other Softs also shows upside as Coffee is up 1.07%.
The ICE Sugar future has fallen back around 6.63% from the significant high of $21 set 21 days ago.