July ICE NY cocoa fell 29 points (-0.70%) and July ICE London cocoa dropped 23 points (-0.73%) on Wednesday. Prices retreated from 1.5-week highs as the dollar index recovered from early losses and moved higher, pressuring cocoa futures. The move appears technical and FX-driven rather than based on a new fundamental cocoa-specific catalyst.
July ICE NY cocoa fell 29 points (-0.70%) and July ICE London cocoa dropped 23 points (-0.73%) on Wednesday. Prices retreated from 1.5-week highs as the dollar index recovered from early losses and moved higher, pressuring cocoa futures. The move appears technical and FX-driven rather than based on a new fundamental cocoa-specific catalyst.
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Request DemoOverall Sentiment
mildly negative
Sentiment Score
-0.15
