In the midst of a 3 day bullish trend, Today's session might suggest a slow down — Arabica Coffee trades at $181.85 per pound, after ending yesterday at $182.15.
United States Initial Jobless Claims is next.
ICE Coffee's state is reflected by market data as United States Interest Rate released yesterday at 18:00 UTC with a figure of four, while the previous figure was 3.25. Highly important Crude Oil Inventories data from United States beat analyst expectations of 367,000 with a reading of -3.12 million. United States ADP Nonfarm Employment Change (Oct) came out at 239,000, while a consensus of analysts was expecting 195,000.
Meanwhile, mixed performances are seen in other Softs as Cotton ascends 1.04% to trade around $79.82.
Furthermore, the market is looking at United States Non Farm Payrolls projected to come out at 200,000 — worse than previous data of 263,000; data will be released tomorrow at 12:30 UTC. United States Unemployment Rate expected to decline to 3.6 while its preceding data was 3.5, data will be available tomorrow at 12:30 UTC. United States ISM Non-Manufacturing PMI (Oct) scheduled to come out today at 14:00 UTC.
The commodity has been trending lower for about a month. Having set a significant low of $169.8 6 days ago, Arabica Coffee is trading 7.27% higher.