Bullish phase under threat as Coffee stays range-bound

On a 6 day uptrend, Yesterday's session put the brakes on the ongoing uptrend — the Coffee future moves 0.33% to close at $182.3 per pound yesterday.

Uncertainty around ICE Coffee is reflected by published market data as United States Unemployment Rate beat the 3.6 projections, with 3.5. United States Non Farm Payrolls published today at 12:30 UTC came out at 236,000, falling short of the 239,000 projections and continuing its decline from the previous 326,000 figure. United States Initial Jobless Claims released earlier showed a marked improvement to 228,000 from the preceding data of 246,000, but fell short of the 200,000 figure forecast by a consensus of market analysts.

The Coffee future is up 20.25% from the significant low of $151.1 it hit 2 months ago.