Sep
The domestic coffee market increased again compared to the same time yesterday. Coffee prices on the two exchanges moved in opposite directions at the end of the week.
The increase in the USD combined with the sell-off trend in the markets, including Arabica, caused New York coffee to continue to decline at the end of the week. In contrast, Robusta coffee had a good increase, even surpassing the record during the session, reaching over 5,000 USD/ton, then falling to 4,948.
In the early morning of August 31, in the US market, the US Dollar Index (DXY), measuring the fluctuations of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased by 0.39%, reaching 101.73.
The US dollar rose after new data showed inflation picked up slightly as expected, supporting expectations that the US Federal Reserve (Fed) could cut interest rates by 25 basis points next month instead of 50 basis points.
Technically, prices on both coffee markets have been rising continuously for the past 4 weeks, and now the New York market is showing signs of adjusting a short-term downward cycle.
According to experts, this is a sign that the market will start to have difficulty increasing more, at least in the near future.
Source: KTĐT.vn
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