COFFEE is trading at $195.48, 0.18% up since previous close. The Coffee prices rallied on Friday amid change in climatic conditions in Brazil turning unfavorable for Coffee production & supplies since Brazil is a major producer of beans. On global front, the steady USD ahead of the result of FOMC meeting due to be held next week makes the Brazilian Real (BRL) currency positive. The comments from few Fed officials over a pause in interest rate hike for the June meeting & progressive clearance of debt ceiling bill after being signed by U.S President Joe Biden created positive sentiments & turned out to be positive for commodities. As seen in the chart, the Coffee successfully crossed over MA (200) which acted as a significant level & hence, further buying may be suggested.

COPPER traded at $8399 .3, 0.21% up since previous close. An upward momentum can be seen in Copper prices against the soft USD after U.S issued weaker than expected Jobless Claims data on Thursday. The progressive closure of U.S debt ceiling deal & better than expected Caixin Manufacturing PMI figure since China is a major consumer of base metals led buying pressure in copper & other base metals. However, uncertainty looms over upcoming Fed monetary decision amid upbeat U.S NFP figures released last week which can make the base metals to trade in volatile zone. As seen in the chart, the Copper is firmly trading within the Moving Averages & if breaches MA (200), a strong breakout can be observed. Buying on lower side may be recommended for the day.