Coffee futures tilt higher ahead of the weekend

Economies.com
2017-02-10 19:30PM UTC

Coffee futures tilted higher in American trade, shrugging off the dollar's rise, which follows a spate of data from the U.S., the world's largest economy.
 
As of 08:27 GMT, coffee futures due on March 16 rose 0.37% to $148.15 a pound from the opening price of $147.50, with an intraday high at $149.20, and a low at $147.20, while the dollar index rose 0.19% to 100.84 from the opening of 100.71.
 
Earlier U.S. data showed import prices up 0.4% m/m in January, slowing down from 0.5% in December, while passing expectations of a 0.2% rise.

The University of Michigan released its consumer confidence report for February, showing a dip to 95.7 from 98.5 in the previous reading, which was revised higher from 98.1, while analysts expected 97.9.
 
The current economic conditions index at the same UoM report fell to 111.2 from 111.3, while consumer's expectations fell to 85.7 from 90.3.

Consumer's expectations for one-year inflation rose to 2.8% from 2.6%, while for five-year inflation inched down to 2.5% from 2.6% in January.

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