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.

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.