A slow down? After three days of going up, Arabica Coffee is flat today, hovering around $162.75.

Published: January 26 2023, 03:50 GMT+0

A slow down? After three days of going up, Arabica Coffee is flat today, hovering around $162.75.

Coffee trades at $162.75 per pound, after ending yesterday at $162.45.

ICE Coffee's state is reflected by market data as Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

Meanwhile, mixed performances are seen in other Softs as having closed the previous session at $86.66, Cotton is up 0.6% today to currently trade at around $87.18.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as today at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%. United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC. United States Core PCE Price Index (MoM) (Dec) is expected tomorrow at 13:30 UTC.

ICE Coffee hit a significant low of $151.1 around 9 days ago, but has since recovered 7.51%.

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