July ICE NY cocoa fell 122 points, or 3.14%, while July ICE London cocoa dropped 79 points, or 2.70%, as prices consolidated just above Monday's 2.5-week lows. A stronger dollar index, which hit a 6-week high, pressured cocoa futures. The move appears technical and FX-driven rather than fundamentally event-based.
July ICE NY cocoa fell 122 points, or 3.14%, while July ICE London cocoa dropped 79 points, or 2.70%, as prices consolidated just above Monday's 2.5-week lows. A stronger dollar index, which hit a 6-week high, pressured cocoa futures. The move appears technical and FX-driven rather than fundamentally event-based.
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Request DemoOverall Sentiment
moderately negative
Sentiment Score
-0.35
