The price of coffee on two futures exchanges reversed to decrease because most investors were still standing outside waiting to hear more news…
Robusta chart London 11/2022 session on September 21, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. The November spot term decreased by 10 USD, to 2,226 USD/ton and the term for delivery in January 2023 decreased by 9 USD to 2,212 USD/ton, slight decreases. Trading volume below maverage breast.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. December spot futures fell 3.85 cents to 221.30 cents/lb and March 2023 futures fell 3.65 cents to 215.10 cents/lb, very significant reductions. Trading volume below average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to the range of 47,600 – 48,100 VND/kg.
The price of coffee reversed to decrease in the mood of waiting to hear the USD base rate increase will be announced by the Fed after the coffee derivatives exchanges closed the session, so the trade volume in the last session was quite low. because most investors are still on the outside.
The US Federal Reserve (Fed) announced to raise the basic USD interest rate by 0.75%, but signaled that the tightening policy could continue for a long time, showing the determination of the Fed in cooling down. inflation, despite the risk that high interest rates could push the US economy into recession. USDX bounced to fresh 20-year highs as it was chosen as a short-term haven, putting emerging currencies at a disadvantage causing the market to decline in overall purchasing power.
Meanwhile, in order to ease the energy crisis enveloping Europe, the British Government has just decided to launch a support call worth 40 billion pounds ($45 billion) to prevent the price of electricity from rising. and gas for businesses within 6 months as Russia tightens supply to the continent because of the war with Ukraine.
Coffee prices weaken as Brazil completes the harvest, farmers are ready to bring new coffee to the market. While in some of the main coffee growing areas in the south, there have been favorable rains at the beginning of the new season, there are worries about drought when the cotton-making season has begun.
The reais fell slightly by 0.36%, to 1 USD = 5,1720 R$, which is said to be in line with the forecast when the US increases interest rates by 0.75%.
ANhan Van (giacaphe.com)
