The Coffee future has been up for four days in a row, gaining $2.9 to reach $162.75.

Published: January 25 2023, 22:26 GMT+0

The Coffee future has been up for four days in a row, gaining $2.9 to reach $162.75.

After closing the previous trading day at $159.85, Coffee is up to $162.75 per pound, which makes for a move of 1.81%/$2.9 today.

Nevertheless, 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.

Meanwhile, United States 5-Year Note Auction released today 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.

This rally in ICE Coffee's price coincides with other Softs as Sugar added 1% to its value, now trading at $20.08. Cotton moves up 0.61% to trade around $86.77.

Also worthy of note, tomorrow 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 GDP projected to come out at 2.6 — worse than previous data of 3.2; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 205,000 from the preceding figure of 190,000.

Having set a significant low of $151.1 8 days ago, Arabica Coffee is trading 5.79% higher.

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