Coffee traded at $181.80, 0.32% up since previous day close. A sharp rally can be seen in Coffee prices on Tuesday despite steady USD post release of higher inflation rate figures. Majorly, the weather conditions in Brazil have been changes & turned unfavorable for Coffee production & supplies which widely pushed up the prices. Moreover, improving economic condition in China & other major economies raises the consumption demand of agri-commodities. Upcoming event of U.S FOMC meeting in the month of March will remain vital for Coffee prices since this event will affect the USD vis-à-vis Brazilian Real (BRL) currency. As seen in the chart, the Coffee successfully crossed over the MA (100) & indices buying on each & every corrective dip on daily basis.

Copper traded at $9003.3, 0.06% up since previous close. An upward momentum can be seen in Copper prices despite higher U.S CPI inflation data issued on Tuesday. Overall, the Copper showed a bullish trend as economic conditions in China seems to be improving which may retain consumption demand of Copper since China is a major consumer of base metals. However, the traders are susceptible over forthcoming FOMC’s monetary policy meeting since the recent U.S NFP figures has shown good improvement in employment figures. The stock level at LME started declining; pushing up the prices. As seen in the chart, the commodity seems to be sustaining the near Fibo level 38.2 & hence, buying pressure may be build-up further.