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March 10, 2023
Cocoa is down to $2,698 per metric tonne, after ending yesterday at $2,732. Overall, a 1.24% loss or $34 today.
United States's Non Farm Payrolls new data released of 311,000 below its previous figure.
Highly important Unemployment Rate data from United States beat analyst expectations of 3.4 with a reading of 3.6. Initial Jobless Claims in United States fell short of market expectations (195,000) with a reading of 211,000, continuing the decline from the previous figure of 190,000.
On the flip side, data for United States Non Farm Payrolls released today at 13:30 UTC is better than expected with 311,000, but worse than previous figure of 504,000.
Japanese candlestick formations show a "gravestone doji” chart pattern — a bearish pattern that suggests a reversal followed by a downtrend in the price action.
In the meantime, negative performances are also seen in other Softs as Cotton is down to $78.18, losing $4, after closing at $82.18 in the preceding trading session.
Positive performances can be seen by looking at other Softs markets as having closed the previous session at $175.05, Coffee is up 1.26% today to currently trade at around $177.25.
Having set a significant high of $2,853 9 days ago, Cocoa is trading 4.24% lower.
