Losing streak continues: CME Cocoa down $26 to $2,924 adding to its 17 days of losses

Cocoa is down to $2,924 per metric tonne, after ending yesterday at $2,950. Overall, a 0.88% loss or $26 today.

United States Core PCE Price Index (MoM) (Mar) is next today at 12:30 UTC.

Following a previous reading of 0.8%, Pending Home Sales in United States released yesterday at 14:00 UTC fell short of the 0.5% figure expected by analysts with an actual reading of -5.2%. GDP in United States fell short of market expectations (two) with a reading of 1.1, continuing the decline from the previous figure of 2.6.

On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 248,000 with a reading of 230,000.

In the meantime, negative performances are also seen in other Softs as after ending yesterday's session at $191.6, Coffee lost $3 and is trading around $188.6.

Though CME Cocoa has been dropping, other Softs have been performing better: having closed the previous session at $25.78, Sugar is up 2.44% today to currently trade at around $26.41. Cotton added 0.6% to its value, now trading at $80.88.

Furthermore, United States Core PCE Price Index (MoM) (Mar) scheduled to come out today at 12:30 UTC.

The commodity has been trending positively for about a month. Having soared to a high of $2,981 approximately 7 days ago, CME Cocoa is now trading 1.04% lower.