While Coffee is on a 4 day uptrend Today's session might suggest a slow down — the Coffee future trades at $169.95 per pound, after ending yesterday at $169.9.
United States Core PCE Price Index (MoM) (Oct) is next.
ICE Coffee's state is reflected by market data as highly important Crude Oil Inventories data from United States beat analyst expectations of -2.76 million with a reading of -12.58 million. Data for United States Pending Home Sales published yesterday at 15:00 UTC came out at -4.6%, beating projections of -5% and showing improvement over the preceding figure of -8.7%. United States JOLTs Job Openings (Oct) released yesterday at 15:00 UTC with a figure of 10.33 million, while the previous figure was 10.69 million.
Meanwhile, mixed performances are seen in other Softs as Cotton is up 0.86%.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Core PCE Price Index (MoM) (Oct) is scheduled for today at 13:30 UTC. United States Non Farm Payrolls projected to decline to 200,000 while previous data was 261,000; data will be released tomorrow at 13:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 235,000. It previously stood at 240,000; data will be released today at 13:30 UTC.
The Coffee future hit a significant low of $152.7 around 14 days ago, but has since recovered 11.26%.