Silver Mar '21 (SIH21)
Silver Futures Market News and Commentary
The dollar index (DXY00) on Monday fell by -0.26%.  The dollar retreated as Monday's stock rally curbed liquidity demand for the dollar. However, losses in the dollar were limited as Monday's +2% jump in WTI crude oil prices has strengthened inflation expectations and could prompt the Fed to keep monetary policy tight, a supportive factor for the dollar. Â
The swaps markets are discounting the odds at 32% for a +25 bp rate hike at the next FOMC meeting on July 28-29.
EUR/USD (^EURUSD) on Monday rose by +0.33%. The euro moved higher on Monday, supported by a weaker dollar. The euro also found support after Monday's report on Eurozone Jun economic confidence rose more than expected. Gains in the euro were limited after Eurozone May M3 money supply rose more than expected, a negative development for the euro.
The Eurozone Jun economic confidence indicator rose by +1.3 to 95.0, beating expectations of 94.3.
Eurozone May M3 money supply rose +3.2% y/y, stronger... Read more
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