Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD
WhatsApp Telegram LinkedIn Facebook X TikTok Instagram

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.

Silver on track for sixth weekly profit in a row

Economies.com
2017-02-10 18:20PM UTC

Silver prices rose on Friday to a three-month high, on track for the sixth weekly gain in a row as haven demand persists in the markets.
 
Silver last traded at $17.85 an ounce, up from the opening price of $17.61, with a session-high at $17.95, and a low at $17.52.
 
Silver's rise today comes on the back of strong exports and trade data from China for January, underpinning industrial metals that include silver and buoying its prices today.
 
On the other hand, silver managed to rise today despite dollar's recovery against a basket of currencies to a two-week high, which would've normally hurt the white metal if not for the strong Chinese data.
 
The dollar index, tracking the greenback against a basket of data, rose to 100.87 from the opening of 100.68, with an intraday high at 101.01, and a low at 100.59, after drawing support from Trump's bullish statements yesterday on cutting corporate taxes.

Crude prices rise for third straight day as OPEC deepens production cuts

Economies.com
2017-02-10 17:20PM UTC

Crude prices rose on Friday for the third straight session, nearing a one-week high as OPEC reaches 92% of the scheduled production cuts, underpinning prices.
 
U.S. crude futures last traded at $53.96 a barrel, up from the opening price of $53.12, with an intraday high at $54.02, and a low at $52.88.
 
The eleven members of OPEC cut production to 29.921 million bpd, completing 92% of the scheduled cuts according to the December deal, in turn buoying prices.
 
The International Energy Agency said that OPEC has achieved 90% of the scheduled cuts in January, compared with a rate of just 60% in the Organization's last deal in 2009, which shows their commitment to the output deal.
 
Negative pressures remain in the markers as U.S. production increases alongside oil rigs, offsetting the cuts made by Russia and OPEC.

Sterling declines, on track for flat week

Economies.com
2017-02-10 16:38PM UTC

Sterling fell on Friday for the second straight day after rising for two sessions, with the pound on track for a flat week after a string of conflicting factors this week.
 
GBP/USD last traded at 1.2466, down from the opening of 1.2490, with a session-high at 1.2518, and a low at 1.2437.
 
Sterling's drop comes amid negative pressure from dollar's rise to a two-week high against a basket of rivals following U.S. president Donald Trump's announcement of "phenomenal" corporate tax cuts soon.
 
The pound rose in the first half of the week after Bank of England officials pointed to the strength of the British economy and how effectively it dealt with the Brexit situation, which could pave the way for a rate hike eventually.
 
These bullish statements underpinned the pound before the dollar rebounded against a basket of currencies, erasing the pound's gains and forcing it into a flat weekly result.

Frequently asked questions

What is the price of Coffee today?

The price of Coffee is $289.60 (2025-07-06 22:15PM UTC)