COFFEE is trading at $183.28, 0.16% up since previous close. The losses in Coffee prices turned into gains on Friday against the softer USD after U.S Senate passed a debt ceiling bill; creating positive sentiments across the globe. Earlier, the few Fed officials hinted for a pause in interest rate hike for the June meeting which turned out to be positive for Brazilian Real (BRL) currency & Coffee prices since Brazilian farmers may fetch more profits while exporting the beans to U.S. Last month, the change in climatic conditions in Brazil turning favorable for Coffee production subdued the prices since Brazil is a major producer of beans. As seen in the chart, the Coffee successfully took a strong support of MA (100) which signals for buying momentum for the day.

COPPER traded at $8331 .3, 0.22% up since previous close. The Copper entered into buying zone after consolidating since last few sessions. The soft USD amid progressive closure of U.S debt ceiling deal & chances of a pause in interest rate hike in next Fed meeting led buying pressure in base metals since they are inversely correlated to USD. Also, the China posted better than expected Caixin Manufacturing PMI figure today which further boosts up Copper prices since China is a major consumer of base metals. Upcoming U.S NFP data release will remain vital for commodities. Buying bias may be established for the day in copper since the commodity reversed up after testing the support of previous lows & also, is on the verge of crossing MA (200).