A slow down? After three days of going up, Coffee is flat today, hovering around $190.35.

ICE Coffee trades at $190.35 per pound, after ending yesterday at $189.85.

United States FOMC Meeting Minutes is next today at 19:00 UTC.

Uncertainty around Arabica Coffee is reflected by published market data as United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction came out at 4.673. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.

Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that the Coffee future's upper Bollinger Band® is at $190.68, suggesting that a downward move may follow.

Overall, while Coffee has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Meanwhile, mixed performances are seen in other Softs as Sugar tumbles 6.19% to trade around $20. Cotton is up 1.16% to $81.86.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as projections for United States Crude Oil Inventories are set for a continuation of decline with 1.17 million while previous data was 16.28 million; data will be released tomorrow at 16:00 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 194,000. United States GDP is expected tomorrow at 13:30 UTC.

The commodity has been trending positively for about a month. Arabica Coffee hit a significant low of $151.1 around a month ago, but has since recovered 25.65%.