The Coffee future is down to $188.5 per pound, after ending yesterday at $191.6. Overall, a 1.62% loss or $3.1 today.
United States's Pending Home Sales new data released of -5.2% below its previous figure.
Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of -5.2%. GDP in United States fell short of market expectations (two) with a reading of 1.1, continuing the decline from the previous figure of 2.6.
On the flip side, data for United States Initial Jobless Claims published today at 12:30 UTC came out at 230,000, beating projections of 248,000 and showing improvement over the preceding figure of 246,000.
Japanese candlestick formations show 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end.
In the meantime, negative performances are also seen in other Softs as Cocoa retreats 0.98% to trade around $2,921.
Though the Coffee future has been dropping, other Softs have been performing better: Sugar is up 2.68%. Cotton improves 2.85% to trade around $80.59.
Furthermore, United States Core PCE Price Index (MoM) (Mar) will be released tomorrow at 12:30 UTC.
3 months ago, ICE Coffee fell to a low of $151.1 but has since recovered 26.8%.
