COFFEE traded at $162.72, 0.31% up since previous close. A strong breakout can be seen in Coffee prices amid multiple global factors. The rise in consumption demand from major economies & ongoing stimulus talks in China made the commodity expensive. Globally, the steady USD ahead of the U.S Fed meeting which is to be held in this week with a hope of 25bps rate hike stance made other currencies to trade on higher side & so, do Coffee & Brazilian Real (BRL) currency. Last week, the rise in supplies from Brazil on an account of favourable climatic conditions pushed down the Coffee prices; for Brazil is a top producer of beans. Buying on lower levels may be suggested for the day since the commodity reversed up from cluster support.

COPPER traded at $8611.3, 0.32% up since previous close. A strong reversal can be observed in copper prices as optimism looms over ongoing Chinese stimulus talks in order to support economic growth; for China is a major consumer of metals. On global front, the steady US Dollar Index as traders & investors wait for U.S FOMC meeting which is to be held this week; with a hope of 25 bps rate hike stance made the commodities stronger. The declining Copper stocks level at London Metal Exchange (LME) made the commodity expensive. As seen in the chart, the Copper took a strong support of short-term Moving Averages & also, crossed over long-term MA (100). This indicates the buying bias on lower levels with the possible targets of $8700 on daily basis.