CME Cocoa trades at $2,319 per metric tonne, after ending yesterday at $2,314.
United States Core PCE Price Index (MoM) (Sep) is next today at 12:30 UTC.
This uncertain state for the Cocoa future is reflected by published market data as highly important Core Durable Goods Orders data from United States beat analyst expectations of 0.2% with a reading of -0.5%. United States GDP beat analyst expectations of 2.4 and the previous reading of -0.6 with new data of 2.6. Data for United States Initial Jobless Claims released yesterday at 12:30 UTC is better than expected with 217,000, but worse than previous figure of 214,000.
Cocoa's upper Bollinger Band® is at $2,405.51 and the lower is $2,274.19.
Despite muted price action in the Cocoa future, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances are seen in other Softs as Cotton is down to $74.52, losing 59 cents, after closing at $75.11 in the preceding trading session.
Furthermore, the market is looking at today at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to -5% from the preceding figure of -2%. United States Core PCE Price Index (MoM) (Sep) is scheduled for today at 12:30 UTC.
Having set a significant high of $2,821 a month ago, Cocoa is trading 4.63% lower.