Copper price began its trading by losing the bullish momentum due to stochastic attempt to end the bullish rally, to settle again near $5.9700 level, which formed strong barrier in the previous trading.

The stability above $5.9700 supports the chances of gathering the required extra positive momentum to motivate the bullish rally that might target $6.1550 and $6.2500, while the decline below it might force it to provide temporary trading, to target $5.8100 before reaching the additional positive targets.

The expected trading range for today is between $5.9100 and $6.1550

Trend forecast: Fluctuated

The GBPJPY pair forced it to provide sideways trading by its stability near 215.50 level, affected by stochastic exit from the overbought levels, the price might be forced to provide some bearish corrective trading, however it couldn’t affect the main bullish track, depending on forming extra support level at 214.15 level.

Therefore, we will keep our main bullish scenario, to gather extra positive momentum, to ease the mission of reaching extra positive stations that might begin at 216.20 and 217.00.

The expected trading range for today is between 214.55 and 216.20

Trend forecast: Bullish

Copper price began its trading by losing the bullish momentum due to stochastic attempt to end the bullish rally, to settle again near $5.9700 level, which formed strong barrier in the previous trading.

The stability above $5.9700 supports the chances of gathering the required extra positive momentum to motivate the bullish rally that might target $6.1550 and $6.2500, while the decline below it might force it to provide temporary trading, to target $5.8100 before reaching the additional positive targets.

The expected trading range for today is between $5.9100 and $6.1550

Trend forecast: Fluctuated

Domestic coffee prices

The domestic coffee market on April 17 interrupted the series of price increases, creating an additional gap with the peak set on March 24 of about 6,600 VND/kg.

According to surveys in key growing areas of the Central Highlands, coffee prices decreased from 1,200 – 1,300 VND/kg, bringing the average price level of the whole region to the threshold of 87,100 VND/kg.

In Dak Nong province (old), the recorded purchasing price was the highest in the region at 87.2 million VND/kg, down 1.2 million VND/kg.

Dak Lak and Gia Lai localities simultaneously decreased the deepest by 1,300 VND/kg, down to 87,000 VND/kg.

The lowest price offered to the market is Lam Dong province, currently listed at 86,600 VND/kg.

World coffee prices

On the international market, exchanges simultaneously reversed direction. Closing the trading session, the price of online Robusta coffee for May 2026 delivery on the London exchange decreased by 1.52% (about 54 USD/ton), to 3,474 USD/ton.

July 2026 futures contract decreased by 1.37% (equivalent to 47 USD/ton), reaching 3,347 USD/ton.

Similarly, on the New York exchange, the price of Arabica coffee for delivery in May 2026 decreased deeply by 2.55% (7.8 US cents/lb), reaching 296.45 US cents/lb. The contract for delivery in July 2026 plunged 2.62% (7.85 US cents/lb), reaching 290.40 US cents/lb.

Market outlook

Coffee prices plummeted due to pressure from a stronger USD. The USD index recovered from a 6-week low and increased again, triggering profit-taking sell-offs on the coffee futures market. However, Robusta’s decline was somewhat limited by tightened short-term supply, as Robusta inventories tracked by ICE fell to a 1.25-year low, to 3,867 lots.

Previously, Arabica coffee prices fell to a 1-month low due to expectations for a record crop in Brazil. On the supporting side, supply from Brazil is showing signs of decline. According to Cecafe, Brazil’s green coffee exports in March decreased by 10% over the same period, to 2.65 million bags. The Brazilian Ministry of Commerce also reported that exports in March decreased by 31%, to 151,000 tons.

Vietnam’s coffee exports in March 2026 recovered thanks to increased post-harvest supply and accelerated delivery activities. According to data from the Vietnam Customs Department, Vietnam’s coffee exports in March 2026 reached 222.0 thousand tons, worth 990.2 million USD, an increase of 56.0% in volume and 47.5% in value compared to February 2026, compared to March 2025, an increase of 15.6% in volume, but a decrease of 11.5% in value.

Forecast for the second quarter of 2026, coffee exports will stagnate as domestic supply decreases after the harvest season, while global inventories are high and demand from the EU and the United States recovers slowly. At the same time, supply from Brazil and Indonesia increases with the prospect of improved new crop output, which will make price competition fiercer, putting pressure on Vietnam’s exports.

Brent crude prices will remain above $90 per barrel through the end of this year as the war continues to cut off supply from the Middle East, analysts at Australia-based bank ANZ said on Tuesday.

The bank raised its 2026 estimate from previous expectations of Brent averaging closer to $80 per barrel, amid mounting supply losses and increasingly distorted supply-demand balances.

“The oil market no longer needs a worst-case escalation to justify higher pricing levels,” the analysts at ANZ wrote in a research note carried by Reuters.

The tightening oil market alone is set to support Brent Crude prices around current levels even if there is no further escalation of hostilities, according to the bank.

Early on Tuesday, Brent crude traded at $98.73 per barrel, down by 0.61%, after the U.S. naval blockade of the Strait of Hormuz began at 10:00 a.m. ET on Monday.

The war has so far removed about 10 million barrels per day of crude supply. Some of this, up to 2 million bpd of the shut-ins of wells in the region, could remain offline permanently or semi-permanently due to damage to reservoirs or financial or technical constraints toward restarting, ANZ’s analysts said.

Stockpile releases could do very little to stabilize oil prices, as inventories in developed economies were already close to historically low levels before the war, according to the bank.

Even if the Strait of Hormuz opened today without any restrictions and risks, oil and gas supply from the Middle East faces recovery of several months well into the late summer, according to Wood Mackenzie.

This, of course, is contingent on an operating Strait of Hormuz.

Goldman Sachs last week warned that Brent Crude prices are set to average above $100 per barrel this year if the Strait of Hormuz remains mostly shut to tanker traffic for another month.

By Tsvetana Paraskova for Oilprice.com

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