Daily Coffee Market Outlook

NY- Neutral- Another non-descript day in NY as traders looked towards the USD, with the board closing just above unchanged. Today could provide more of the same, as Greece pledges $6.6 bil more in budget cuts to appease its EU neighbours in their support. This should weigh on the dollar and perk up the Euro, possibly lifting the 'C' slightly. In terms of data, figures to watch in the US are the ADP employment numbers and ISM non-manufacturing this afternoon. May levels; 130 and 124 to the downside, 135 and 137 remain as resistance.

Liffe- Sell (1)- LDN continued its journey to the downside yesterday with the board closing down around $15. Weakness appears to attract more traders despite the stability seen over the last few sessions. Position rolling has provided much of the flow as we enter delivery period. With May unable to hold above 1280 or attempt a close above 1300, this momentum should continue towards 1250. To the upside, 1300 and 1335 remain the bulls' goal.