Softs traders focused on the ICE Sugar future as it powers 3.17% higher

After closing the previous trading day at $25.52, Sugar is up to $26.33 per pound, which makes for a move of 3.17%/81 cents today.

New United States Average Hourly Earnings improved upon the previous 0.3% figure while also exceeding analyst expectations with a reading of 0.5%.

This move comes while some more positive signs for the Sugar future are out as data for United States Average Hourly Earnings published today at 12:30 UTC came out at 0.5%, beating projections of 0.3% and showing improvement over the preceding figure of 0.3%. Highly important Non Farm Payrolls data from United States beat analyst expectations of 180,000 with a reading of 253,000. Highly important Unemployment Rate data from United States beat analyst expectations of 3.6 with a reading of 3.4.

Rallies can also be seen in other Softs, having closed the previous session at $81.76, Cotton is up 2.58% today to currently trade at around $83.87. Coffee is up 2.3%. Cocoa rises 0.79% to trade around $2,927.

The Sugar future has fallen back around 3.37% from the significant high of $26.41 set 8 days ago.