Coffee traded at 174.40, 0.02% down since previous day close. The Coffee prices seem to be forming up consolidation phase since the commodity is trading in a very tight range since last three sessions. Earlier, the Coffee rallied up to 3-month highs of $180 levels in the amid strong BRL currency since this may fetch higher profit to Brazilian farmers while exporting the beans to U.S. Currently, the strong USD post release of U.S Non-Farm Payroll data which showed a progress in U.S employment status & may contribute in hawkish rate hike stance in Fed’s next meet. Overall, the rising consumption demand of Coffee from major economies further pushed up the prices. Wait & watch strategy may be s; for the commodity may show either side breakout beyond consolidation.

Natural Gas is trading at $2.376, 0.02% up since previous close. The Natural gas prices slightly recovered on Friday post release of U.S EIA report which showed a fall in Natural gas inventory level by 217B against the expectation 200B. This indicates drop-down in storage levels & supplies which may make the commodity more expensive in the longer term. On global front, the strong U.S NFP data arouses the chances of interest rate hikes in the next Fed meeting & hence, USD strengthened & global commodities softened. The changes in European regions & U.S may affect the consumption demand of heating fuels; further making commodities more vulnerable. Wait & watch strategy may be suggested for the day since the commodity may take a strong support at this level.