COFFEE is trading at $184.35, 0.09% down since previous day close. The Coffee prices corrected on Wednesday; however, is expected to open on higher note today amid soft USD. The FOMC hiked an interest rate by 25 bps rate hike & hinted for pause in monetary tightening in next meet. This may push up the Brazilian Real (BRL) currency vis-à-vis Coffee prices as Brazilian farms may fetch higher profits while exporting the beans to U.S. The risk of lesser supplies from Colombia due to the changing climatic conditions made the Coffee expensive; for Colombia is the world’s second largest bean producer. As seen in the chart, the Coffee is trading near lower trend-line of bullish channel pattern & hence, the cautious trading may be recommended for the day.

COPPER is trading at $8482.3, 0.13% down since previous close. The selling pressure can be seen in copper prices since last two sessions; however, the commodity is expected to open on higher side in Thursday as softened USD may turn positive for base metals. The FOMC hiked an interest rate by 25bps as expected however, hinted for pause in the monetary tightening decisions in the next meeting. Besides this, the opening up of Chinese markets after remaining shut for national event may raise the Copper prices since China is a major consumer of metals. The focus will be on U.S ADP & NFP data release event this week. As seen in the chart, the Copper slid down to previous lows which acts as a major support level & hence, the cautious trading can be seen for the day.