Trader’s Timeout: Coffee Futures Surge on Dollar Woes, Short Covering

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Trader’s Timeout: Coffee Futures Surge on Dollar Woes, Short Covering

Postby kreslik.news » Fri Aug 26, 2016 2:41 pm


This article was written by Evdokia Pitsillidou, Risk Management Associate at easyMarkets.

Coffee futures are riding five-week highs, as the combination of a weak US currency and short-covering have aided dollar-denominated commodities.

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Arabica, the highest quality bean traded on the ICE Futures exchange in New York, was trading north of $147.00 a pound by Wednesday, a five-week high. Since bottoming out at three-week lows on August 17, coffee prices have rebounded about 7%.

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