The ICE Sugar future trades at $19.76 after better than expected United States Core Durable Goods Orders data

After closing the previous trading day at $19.67, the Sugar future is up to $19.76 per pound, which makes for a move of 0.46%/9 cents today.

• New United States Core Durable Goods Orders improved upon the previous -0.4% figure while also exceeding analyst expectations with a reading of 0.7%.

Data for United States Core Durable Goods Orders published today at 13:30 UTC came out at 0.7%, beating projections of 0.1% and showing improvement over the preceding figure of -0.4%. Core Durable Goods Orders in United States fell short of market expectations (-4%) with a reading of -4.5%, continuing the decline from the previous figure of 5.1%.

Sugar's lower Bollinger Band® is at $19.32, indicating that the market is oversold and fertile for new buyers.

Overall, looking at the technical analysis landscape, it seems the ICE Sugar future might continue pointing upwards in the short term.

Today at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released tomorrow at 15:00 UTC.

Cocoa is up 1.56%. Cotton is down to $83.64, losing $1.26, after closing at $84.9 in the preceding trading session. Coffee decreases 0.72% to trade around $186.35.

Over the past 27 days, ICE Sugar has retreated 9.6% from a noteworthy peak of $21.76.