Coffee witnesses gains from oversold sentiment

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Rural commodities apart from sugar surged on Friday despite soft demand for riskier assets amid US fiscal uncertainty. Short-covering and signals that farm commodities entered into oversold territory pushed the commodity group higher. However, weak US exports, upgrades of Brazilian crop estimates and firm US Dollar created notable pressure on rural commodities.

Wheat inched higher despite year-end liquidation and preparations for fund and index rebalancing.  Favorable weather in the US major wheat-growing regions as well as weak demand for US supplies also weighed on the commodity.

Corn advanced as a recent fall in prices spurred short-covering. Moreover, rains in Argentina that are slowing down harvesting provided some support for grains.  However, soft demand for US exports continued to cap gains.

Sugar was steady as rising Indian imports offset concerns over ample global supplies as well as pressure from solid greenback.

Coffee jumped as Brazil's officials claim that recent crop forecasts upgrades may have driven coffee prices artificially low.


Back to articles

Actual Topics

Mon, 24 Dec 2012 14:00:28 GMT

US equities closed lower on fiscal worries

US stocks ended pre-holiday week in the red territory as risk sentiment was dampened by mounting concerns over the US fiscal impasse. Negative figures from the Eurozone also pushed US stocks lower. However, positive US data releases limited losses of US shares. The S&P 500 Index dipped 0.94% to close at 1,430.15. All sectors within the index tumbled. The top-losers

Mon, 24 Dec 2012 13:19:29 GMT

Heating oil slumps on normal US weather forecasts

Energy futures were bearish on weak appetite for riskier assets amid fading hopes that US officials will agree on the budget before January 1.  Solid greenback also pressurized the commodity group. However, recent positive US data readings as well as lower US inventories limited the downswing.Crude oil tumbled on worries over the US budget impasse. Solid US Dollar and uncertainty

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.