DXY increased sharply again due to disappointment after adjusting the US economic report data in the past two months, causing most investors to stand outside the markets waiting to hear more…
In general, the first week of 2024, the London market had 3 sessions of decline at the beginning of the week and 2 sessions of recovery. The price of Robusta coffee for March delivery decreased by a total of 46 USD, or 1.62%, to 2,795 USD/ton, and for May delivery, it decreased by a total of 30 USD, or by 1.09%, to 2,757 USD/ton. tons, the levels decreased significantly. Trading volume is below average.
Meanwhile, the New York market had 4 decreasing sessions and 1 increasing session. The price of Arabica coffee for March delivery decreased by a total of 5.50 cents, or a decrease of 2.92%, to 182.80 cents/lb and for May delivery, a total decrease of 5.10 cents, or a decrease of 2.74 cents. %, to 181.10 cents/lb, the reductions are also significant. Trading volume is above average.
The price of green coffee in the Central Highlands market decreased by 300 – 400 VND, fluctuating in the range of 66,900 – 67,800 VND/kg.
During the week, DXY increased 0.40% and US economic data in the past two months was adjusted downward, causing the market to show skepticism in speculation that the Fed will cut interest rates at the upcoming March executive meeting. As a result, speculative capital flows continued to leave commodity markets to find shelter, helping stocks increase for 9 consecutive weeks.
Arabica coffee contracts this week fell 3.19% and Robusta coffee also fell 1.62% as most funds and speculation continued to liquidate their previously held quite high buying positions.
According to observers, Robusta coffee in the Southeast Asia region is currently very difficult to buy because farmers are expecting higher prices, causing businesses to raise the price difference (Dif.) to quite high compared to the expected price. term in London.
Robusta coffee inventories issued by the London Exchange Certified and monitored, as of Friday, January 5, have decreased by 610 tons, or 1.74% compared to a week earlier, down to register at 34,400 tons ( about 573,333 bags, 60 kg bags), approximately the low level in early September 2023, contributed to supporting the recovery of coffee futures on the London floor over the weekend.
English (giacaphe.com)
