Coffee was higher in all three markets as New York finally reacted to increased demand for Arabica and the lack of offer of Robusta from Vietnam. Roasters have turned to Arabica, although not enough to move New York futures out of the trading range.
Home Depot Inc., the largest U.S. home-improvement retailer, forecast 2014 earnings growth that trailed some analysts’ estimates while also saying it would meet a profitability goal earlier than expected.
Tomorrow morning markets will react to the release of the November unemployment number. This release will be watched very closely as market participants look for clues for when the Fed might taper its $85 billion a month bond buying program.
FEB14 gold shot up this morning, trading up $27 to $1,261. $1275 is our next key target and resistance level. Gold now looks like it could have some momentum to the upside, and possibly approach $1,290.