COFFEE traded at $165.72, 0.28% up since previous close. The Coffee prices moved up on Monday & is expected to open on higher side today as well; amid steady USD ahead of the U.S Non-farm Payroll data release event due later in this week. This becomes supportive for Brazilian Real (BRL) currency & Coffee prices. The rise in demand against the supplies from major parts of the world led the buying pressure in Coffee prices. The Fed hiked an interest rate by 25bps as expected & hinted for one more rate hike later in this year which turned out to be positive for Coffee prices since Brazilian farmers may fetch higher profits while exporting the beans to U.S. Buying at lower levels may be recommended since the commodity seems to be taking a cluster support at previous lows.

COPPER traded at $8764.3, 0.12% up since previous close. A sharp rally can be seen in copper prices in the previous session amid rise in demand from China; as optimism looms over ongoing Chinese stimulus talks in order to support economic growth. The mixed PMI figures failed to create any negative impact on metals. On global front, the steady USD on account of Fed’s expected move of 25bps rate hike stance & upcoming U.S Non-farm Payroll data release event later in this week may remain significant for commodities. The declining Copper stocks level at (LME) made the commodity expensive. As seen in the chart, the Copper is expected to take a support of MA (10) & hence, buying on lower side may be suggested for the day.