200-Day Line Fails to Hold as Support

Both the long-term 200-Day MA and intermediate 50-Day MA failed to stop the descent in the price of natural gas. And it is on track to close clearly below the line today. This increases the short-term bearish outlook and the chance to reach lower targets before the retracement is complete. Below 2.34 begins a price zone from 2.235 to around 2.18.

Nonetheless, this does not mean that natural gas continues straight down as it has the past several days. A bounce is coming sometime. If it comes soon, the first sign of strength would be on a rally above today’s high of 2.48. Potential resistance around the 200-Day MA at 2.47 and the 50-Day line at 2.49 should also be considered, followed by this week’s high of 2.60.

Result of Failed Trendline Breakout

Natural gas is reacting to a failed trendline breakout that began in early-June. It was able to stay above the long-term downtrend line for only four days before it succumbed to selling pressure. Bearish implications were confirmed today with the drop below the 200-Day line. This means that the recovery could take some time.

Possible Time Symmetry

Let’s quickly analyze the timing of the current retracement. As indicated above, it takes the shape of a falling ABCD pattern. The AB decline of the pattern occurred in eight days while the current CD down leg is now in its fourth day. Will a retracement low be reached after an eight-day decline for the CD leg of the pattern? If it does, time symmetry will be represented. As with price, once swings match in time a potential pivot point has been identified.

For a look at all of today’s economic events, check out our economic calendar.

New York, United States , July 02, 2024 (GLOBE NEWSWIRE) — The Global Coffee Capsules Market Size is to Grow from USD 6.9 Billion in 2023 to USD 14.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.48% during the projected period.

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A coffee capsule is a paper filter-free coffee container made of aluminum or plastic. It is typically different from other things since it is designed expressly to work with a certain brand or system. Utilizing single-serve vacuum-packed coffee capsules calls for certain equipment. As a result, producers release new formulas onto the market, such as coffee capsules. Caffeine also enhances athletic performance by increasing fatty acid oxidation and metabolism and releasing fatty acids from fat cells. There is a growing market for non-alcoholic beverages. Non-alcoholic beverage options include fruit juices, bottled water, carbonated soft drinks, and RTD tea and coffee. Growing urbanization, changing lifestyles, rising health consciousness, and rising disposable income are all predicted to cause a rise in the use of non-alcoholic beverages. Popular non-alcoholic drinks, such as coffee, are valued for their strong caffeine flavor and scent. However, due to the detrimental impacts of packaging, it is anticipated that the demand for coffee capsules will decrease. Coffee capsules are not recyclable since they include both plastic and aluminum.
Browse key industry insights spread across 210 pages with 95 Market data tables and figures & charts from the report on the “Global Coffee Capsule Market Size, Share, and COVID-19 Impact Analysis, By Material (Aluminum, Compostable, PBT Plastic), By Application (Residential, Commercial), By Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”

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The aluminum segment is anticipated to hold the greatest share of the global coffee capsules market during the projected timeframe.   
Based on the material, the global coffee capsules market is divided into aluminum, compostable, and PBT plastic. Among these, the aluminum segment is anticipated to hold the greatest share of the global coffee capsules market during the projected timeframe. A combination of their simplicity of use and adaptability, aluminum coffee capsules have seen a significant increase in popularity recently. Customers who want to quickly and conveniently create delicious coffee without having to measure out coffee grounds or grind their own beans are starting to like aluminum coffee capsules more and more. Aluminium coffee capsules are in high demand due to the growing popularity of single-serve coffee makers such as Keurig and Nespresso. These machines, which are designed to use pre-packaged coffee capsules, allow users to quickly prepare one cup of coffee. 

The commercial segment is anticipated to hold the greatest share of the global coffee capsules market during the projected timeframe.   
Based on the end user, the global coffee capsules market is divided into residential and commercial. Among these, the commercial segment is anticipated to hold the greatest share of the global coffee capsules market during the projected timeframe. The use of coffee capsules in an industrial setting has several advantages. Coffee capsules are a cost-effective and practical solution for businesses looking to provide a range of coffee choices without having to hire professional baristas or invest in specialist equipment. Coffee capsules additionally reduce waste and disarray, which is advantageous in hectic workplaces where productivity and organization are essential.

The supermarkets & hypermarkets segment is predicted to hold the greatest share of the coffee capsules market during the estimated period.
Based on the distribution channel, the global coffee capsules market is divided into supermarkets and hypermarkets, specialty stores, online stores, and others. Among these, the supermarkets & hypermarkets segment is predicted to hold the greatest share of the coffee capsules market during the estimated period. Supermarkets and hypermarkets provide a wide variety of food, drink, and everyday items. Numerous brands of coffee capsules are among the many products available in supermarkets and hypermarkets. Customers have lots of alternatives when it comes to coffee capsules because supermarkets and hypermarkets have dedicated departments for them. The producers of coffee capsules sell directly to retailers or distributors, who resell the capsules to retailers that stock supermarkets and hypermarkets.

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Asia Pacific is expected to hold the largest share of the global coffee capsules market over the forecast period.

Asia Pacific is expected to hold the largest share of the global coffee capsules market over the forecast period. The growth of the Asia Pacific market is heavily impacted by variables such as customers’ changing lifestyles and preference for coffee over tea. Customers in the Asia-Pacific region, especially those from China, India, and Japan, prefer to purchase health-related goods. The strong demand for novel products in the Asia Pacific region is driving the market’s growth. The market for coffee capsules is growing in the Asia-Pacific region as a result of rising coffee maker supply and demand.

Europe is predicted to grow at the fastest pace in the global coffee capsules market during the projected timeframe. Coffee capsules, sometimes referred to as coffee pods, allow consumers to quickly and simply make one cup of coffee at home or at work. There are a number of factors driving the demand for coffee capsules in Europe, such as the rising popularity of single-serve coffee and the trend toward home brewing. Consumers are searching for quick and easy ways to enjoy delicious coffee at home without having to invest in bulky, costly coffee brewing supplies. coffee capsules’ ease of use and convenience have increased their appeal. Because they have already been measured, ground, and packaged, they are a hassle-free option for clients who are rushed for time.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global coffee capsules Starbucks Corporation, illycaffè S.p.A., Coffeeza, The Kraft Heinz Company, Dualit Limited, JACOBS DOUWE EGBERTS, RAVE COFFEE, Nestle Nespresso SA, Gourmesso Coffee, Blue Tokai Coffee, Keurig Green Mountain, Inc., Gloria Jeans, DD IP Holder LLC, com, Starbucks Corporation, Others.

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Recent Developments

• In April 2024, Arabica coffee capsules that are compatible with the Nespresso machine are being promoted as a way for Starbucks and Nespresso to bring the Starbucks coffee experience home. The new campaign aims to highlight the wide range of Flavors available in Starbucks’ great coffee.
• In February 2024, Nestle S.A., one of the leading producers of coffee, announced the launch of their new range of organic coffees. The most recent product to be added to the organic collection is the Nespresso Brazil Organic Coffee Capsule. This new product is a responsibly sourced 100% Arabica blend.

Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global coffee capsules market based on the below-mentioned segments:

Global Coffee Capsules Market, By Material

• Aluminium
• Compostable
• PBT Plastic

Global Coffee Capsules Market, By End Use

Global Coffee Capsule Market, By Distribution Channel

• Supermarkets And Hypermarkets
• Specialty Stores
• Online Stores
• Others

Global Coffee Capsules Market, Regional Analysis

• North America
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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XAU/USD Current price: $2,323.79

• Comments from Federal Reserve Chair Jerome Powell helped the market’s mood improve.
• The focus shifts to United States employment-related data, ADP report scheduled for Wednesday.
• XAU/USD trades with a soft tone, limited chances of a bearish extension in the near term.

Spot Gold holds to familiar levels on Tuesday, with XAU/USD now retreating from an intraday high of $2,336.72 to trade just above the $2,320 mark. The bright metal turned south as the mood somehow improved in the American session following comments from Federal Reserve (Fed) Chairman Jerome Powell. Powell participated in a monetary policy panel at the 2024 ECB Forum on Central Banking in Sintra and noted the disinflation trend shows “signs of resuming.” However, he also said that the labor market is still strong, and that policymakers need to see more data like the one they have been seeing recently.

Meanwhile, Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, also hit the wires in a different event and said he still thinks a soft landing is possible and that the ark of inflation is clearly down. As a result, stock markets trimmed most of their intraday losses, although Wall Street’s major indexes remain in the red. Nevertheless, decreased demand for safety weighed on Gold.  

Speculative interest now focuses on United States (US) employment-related data. The country will release the Automatic Data Processing (ADP) Research Institute’s monthly report on private sector job creation for June and Challenger Job Cuts for the same month on Wednesday. The ADP report is expected to show that the private sector added 160K new positions in June, slightly above the 152K added in May. The reports could confirm or deny the case presented by Chair Powell about the labor market still being tight.

XAU/USD short-term technical outlook shows

The daily chart for XAU/USD shows it hovers around a flat 20 Simple Moving Average (SMA) for a third consecutive day, while the longer moving averages keep heading north below the current level. A bullish 100 SMA provides dynamic support at around $2,261.50. Technical indicators, in the meantime, turned modestly lower at around their midlines, lacking clear directional strength.

In the near term, and according to the 4-hour chart, XAU/USD is bearish-to-neutral, as it rests above a flat 100 SMA, while the 20 SMA turned directionless just above the current level. At the same time, the Momentum indicator heads south right below its midline, while the Relative Strength Index (RSI) indicator consolidates at around 48.

Support levels: 2,319.00 2,308.30 2,293.50  

Resistance levels: 2,337.00 2,345.20 2,354.60

XAU/USD Current price: $2,323.79

• Comments from Federal Reserve Chair Jerome Powell helped the market’s mood improve.
• The focus shifts to United States employment-related data, ADP report scheduled for Wednesday.
• XAU/USD trades with a soft tone, limited chances of a bearish extension in the near term.

Spot Gold holds to familiar levels on Tuesday, with XAU/USD now retreating from an intraday high of $2,336.72 to trade just above the $2,320 mark. The bright metal turned south as the mood somehow improved in the American session following comments from Federal Reserve (Fed) Chairman Jerome Powell. Powell participated in a monetary policy panel at the 2024 ECB Forum on Central Banking in Sintra and noted the disinflation trend shows “signs of resuming.” However, he also said that the labor market is still strong, and that policymakers need to see more data like the one they have been seeing recently.

Meanwhile, Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, also hit the wires in a different event and said he still thinks a soft landing is possible and that the ark of inflation is clearly down. As a result, stock markets trimmed most of their intraday losses, although Wall Street’s major indexes remain in the red. Nevertheless, decreased demand for safety weighed on Gold.  

Speculative interest now focuses on United States (US) employment-related data. The country will release the Automatic Data Processing (ADP) Research Institute’s monthly report on private sector job creation for June and Challenger Job Cuts for the same month on Wednesday. The ADP report is expected to show that the private sector added 160K new positions in June, slightly above the 152K added in May. The reports could confirm or deny the case presented by Chair Powell about the labor market still being tight.

XAU/USD short-term technical outlook shows

The daily chart for XAU/USD shows it hovers around a flat 20 Simple Moving Average (SMA) for a third consecutive day, while the longer moving averages keep heading north below the current level. A bullish 100 SMA provides dynamic support at around $2,261.50. Technical indicators, in the meantime, turned modestly lower at around their midlines, lacking clear directional strength.

In the near term, and according to the 4-hour chart, XAU/USD is bearish-to-neutral, as it rests above a flat 100 SMA, while the 20 SMA turned directionless just above the current level. At the same time, the Momentum indicator heads south right below its midline, while the Relative Strength Index (RSI) indicator consolidates at around 48.

Support levels: 2,319.00 2,308.30 2,293.50  

Resistance levels: 2,337.00 2,345.20 2,354.60

Natural Gas (NG) is trading at $2.46, marking a decrease of 0.44%. Analyzing the 2-hour chart, the current pivot point is precisely at $2.46. Resistance levels are set at $2.53, $2.59, and $2.64, respectively. On the downside, immediate support can be found at $2.42, with further support levels at $2.36 and $2.32.

• Silver price depreciates as US Dollar improves due to higher yields.
• The non-yielding Silver may rebound as recent US inflation data raised the expectations of the Fed reducing rates in 2024.
• Demand uncertainties in China, the largest consumer of Silver, might add to the pressure on prices.

Silver price (XAG/USD) halts its three-day winning streak, hovering around $29.30 per troy ounce during the European trading hours on Tuesday. The price of Silver faces the challenge of an improved US Dollar (USD), which could be attributed to the higher UST yields. Traders await Tuesday’s speech by Federal Reserve Chairman Jerome Powell to assess the monetary policy outlook.

The price of the grey metal may regain its ground as the recent US inflation data raised the expectations of the Federal Reserve (Fed) reducing interest rates in 2024. Lower interest rates could spark the demand of non-yielding assets like Silver.

On Friday, the US Bureau of Economic Analysis reported that recent US inflation eased to its lowest annual rate in over three years. The US Personal Consumption Expenditures (PCE) Price Index increased by 2.6% year-over-year in May, down from 2.7% in April. Meanwhile, Core PCE inflation rose by 2.6% year-over-year in May, down from 2.8% in April.

However, Federal Reserve Bank of San Francisco President Mary Daly remarked on Friday, “If inflation stays sticky or comes down slowly, rates would need to be higher for longer,” according to Reuters.

Demand uncertainties in China might contribute to the pressure on Silver prices after an official report indicated a second consecutive month of manufacturing downturn in June. China’s National Bureau of Statistics (NBS) reported that the Manufacturing PMI remained at 49.5.

• Gold price posts small gains early Tuesday, following a positive start to the Big week. 
• The US Dollar recovers overnight losses, as US Treasury yields retreat amid risk-off mood.  
• Gold traders turn cautious ahead of US jobs data, Fed Chair Powell’s speech.
• Gold price regains key 21-day SMA, as the daily RSI flips bullish. 50-day SMA is the next topside barrier.

Gold price is looking to build on the previous upswing in the Asian session on Tuesday. Gold buyers, however, could turn cautious heading into the key US JOLTs Job Openings data and US Federal Reserve (Fed) Chair Jerome Powell’s speech later in the day.

All eyes turn to Fed Chair Jerome Powell’s speech

Despite the upbeat momentum in Gold price, buyers seem to be struggling, as the US Dollar recovers overnight losses amid a softer risk tone. The Greenback also capitalizes on the fresh leg higher in the USD/JPY pair, as the Japanese Yen continues to fall toward the 162.00 mark.

The latest gains in Gold price could be attributed to a retreat in the US Treasury bond yields across the curve, as traders resort to profit-taking ahead of critical US event risks. The benchmark US 10-year Treasury bond yields pull back after facing resistance at the key 4.50% level.

Looking ahead, the expected decline in the US JOLTs Job Openings data to 7.9M in May from April’s 8.05M could provide signs of some loosening in the labor market, fanning September Fed rate cut expectations. Powell’s words, however, in the Policy Panel at the European Central Bank (ECB) Forum in Sintra are likely to play a pivotal role in the Gold price action.

Markets are currently pricing in a 64% chance of the Fed cutting interest rates in September and another cut in December, according to the CME Group’s FedWatch Tool.

On Monday, Gold price witnessed a good two-way price movement, initially trading with caution starting a big week. Gold price also took a hit after the US Dollar jumped notwithstanding the mixed US ISM Manufacturing PMI data. The ISM’s manufacturing PMI slipped to 48.5 last month from 48.7 in May. The ISM Manufacturing Price Paid sub-index also dropped sharply to 52.1 in June from May’s 57.0, missing the expected 55.9 print.

However, the uptick of the US Dollar was short-lived, as traders weighed the downbeat data, which supported the Fed’s bets for a policy pivot as early as September. The renewed US Dollar weakness helped Gold price stage a decent recovery, further aided by a short-covering by the shorter-term traders and some perceived bargain buying in the cash market.

Gold price technical analysis: Daily chart