COFFEE traded at $155.17, 0.07% up since previous close. An upward momentum can be observed in Coffee prices on Wednesday against the soft USD post release of weaker U.S ADP Employment Change data. However, the scenario was dissimilar earlier in this week on an account of hawkish U.S Powell speech at Jackson Hole Symposium in order to tame down inflation rate which turned out to be positive for USD & negative for Brazilian Real (BRL) currency vis-à-vis Coffee prices. The change in weather conditions in Brazil affecting the output & supplies level makes the prices more volatile; since Brazil is a major producer of coffee beans. As seen in the chart, the Coffee seems to be sustaining the support of double bottom & hence, buying on dips may be recommended.
Read More… Read LessIntra Day | |
Near Day |
R3 | 158.885 |
R2 | 156.89 |
R1 | 156 |
Turnaround | 154.89 |
S1 | 154 |
S2 | 152.89 |
S3 | 150.886 |
COPPER traded at $8461 .3, 0.12% up since previous close. Like other commodities, the base metals surge up against the soft USD as U.S issued weaker ADP Employment Change data which may lower down the risk of higher rate hikes. However, the traders remain cautious ahead of U.S inflation & NFP data release event due today & Friday respectively. The mixed Chinese PMI figures may not create any major negative impact on copper prices. This has been outweighed by recent move of China of announcing new measures to support the stock market & property sector which might increases the demand of copper since China is a major consumer of base metals. As seen in the chart, the Copper seems to be crossing up the MA (100) & hence, buying momentum may be recommended.
Read More… Read LessIntra Day | |
Near Day |
R3 | 8593 |
R2 | 8518 |
R1 | 8489 |
Turnaround | 8443 |
S1 | 8414 |
S2 | 8368 |
S3 | 8293 |
XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms with excellent execution speed, a 24/5 client support system with no dealing desk involvement.
© 2024 XFlow Markets, All rights reserved.
Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.
You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.
XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.
XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.
Telephone number: UAE: +971 43304431 Working hours: 7:00 AM - 5:00 PM (GMT+0)
XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.
XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.