Silver Mini Futures Market News and Commentary
The dollar index (DXY00) on Friday rose by +0.45% and posted a 3-week high. The dollar moved higher Friday after stronger-than-expected U.S. economic reports on Nov payrolls and Dec consumer sentiment dampened speculation the Fed would begin cutting rates as soon as Q1. The dollar fell back from its best levels Friday after stocks recovered early losses and moved higher, curbing liquidity demand for the dollar.
Friday’s U.S. economic news was hawkish for Fed policy and bullish for the dollar. Nov nonfarm payrolls rose +199,000, stronger than expectations of +185,000. Also, the Nov unemployment rate fell -0.2 to a 4-month low of 3.7%, showing a stronger labor market than expectations of no change at 3.9%. In addition, the University of Michigan U.S. Dec consumer sentiment index rose +8.1 to a 4-month high of 69.4, stronger than expectations of 62.0.
The markets are discounting a 1% chance for a +25 bp rate hike at the next FOMC meeting on Dec 12-13 FOMC and a 0% chanc... Read more
- Short Crude Oil 4-Legged Spread, Long Brent Crude Calendar Spread, and short Copper Calendar Spread
Brent Crude dropped (6.5%) for the week and is approaching a strong long-term support level. WTI Crude has a very similar set-up. I expect an eventual...
- Dollar Gains on Strong U.S. Economic News
The dollar index (DXY00 ) on Friday rose by +0.45% and posted a 3-week high. The dollar moved higher Friday after stronger-than-expected U.S. economic...
- 3 Gold Mining Stocks to Buy for More Upside
As gold futures solidify their footing above $2,000 an ounce, here's a look at three gold mining stocks that Wall Street expects to rally from current...
- Stocks Rally as Soft-Landing Prospects Improve
What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.21%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.20%, and the Nasdaq...
- Gold/Silver: Everything is Riding on this Number! - The Metals Minute w/ Phil Streible
Phil Streible with Blue Line Futures discusses Gold, Silver, Copper, Platinum, and other commodity topics.
- Elliott Waves Video Ahead Of NFP
It will depend on actual US jobs data and revisions, but on yeilds weakness watch for kiwi strenght, but on yields strength watch euro weakness. Even if...