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Silver Jul '24 (SIN24)

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Silver Futures Market News and Commentary

Dollar Rallies on Solid US Economic News and Soaring Crude Prices

The dollar index (DXY00) rose by +0.26% on Thursday.  The dollar rallied on Thursday amid favorable US economic news. Weekly jobless claims rose less than expected, Q2 nonfarm productivity rose more than expected, and Q2 unit labor costs rose less than expected.  Gains in the dollar accelerated on Thursday after WTI crude oil prices rose more than +2%, raising inflation expectations and a hawkish factor for Fed policy. 

The dollar also found support from Thursday’s Financial Times report that said Fed Chair Warsh is willing to raise interest rates at the September FOMC meeting if inflation firms and market expectations shift further towards tightening in the coming months.

US weekly initial unemployment claims rose by +1,000 to 199,000, showing a stronger labor market than expectations of 205,000.

US Q2 nonfarm productivity rose +1.4%, stronger than expectations of +0.6%.  Q2 unit labor costs rose +1.3%, less than expectations of +2.1%.

The markets are discou... Read more

Stacked silver bars by Tookapic via Pixabay
Gold & Silver Explode Overnight! The Driver No One is Talking About | Metals Minute Phil Streible

Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 718)

Pile of money with hands by Sergey Nazarov via iStock
Dollar Rallies on Solid US Economic News and Soaring Crude Prices

The dollar index (DXY00 ) rose by +0.26% on Thursday. The dollar rallied on Thursday amid favorable US economic news. Weekly jobless claims rose less...

Image by Karolina Kaboompics via Pexels
Dollar Gains on Favorable US Economic News

The dollar index (DXY00 ) is up by +0.17% today. The dollar is moving higher today on some favorable US economic news. Weekly jobless claims rose less...

Silver nuggets and ingot by Mike Maniatis via Shutterstock
Gold & Silver Breakout! Copper Export Ban | Key Levels to Watch | Metals Minute Phil Streible

Metals Minute Phil Streible | Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 717)

A one dollar bill floating in water by Wirestock via iStock
Dollar Slides on Stock Strength and Weakness in US Economic Reports

The dollar index (DXY00 ) fell by -0.17% on Wednesday. The dollar fell on Wednesday after the S&P 500 climbed to a new record high, reducing demand for...

Gold bullion rounded by istara via Pixabay
Gold Breaches 50-Day Moving Average: Real Rally or Bull Trap?

Gold bugs are celebrating another breakout above the trendline and 50-day moving average. However, with the 50-day MA still declining, caution is warranted...

Elon Musk Is Asking Investors to Trust Him Again as SpaceX Focuses on More Than Just Space

SpaceX delivered a strong Q2 earnings report, but massive AI spending became the story investors couldn’t ignore.

Is Wall Street Bullish or Bearish on Prologis Stock?

Prologis has outperformed the broader market over the past year, and analysts remain moderately optimistic about its future growth prospects.

The Curious Case of Oracle Stock: The Better the Business Gets, the More Investors Worry

Oracle’s AI business is booming, but investors are increasingly focused on the cost of turning record demand into real profits.

Are Wall Street Analysts Bullish on Skyworks Solutions Stock?

Skyworks Solutions has lagged the broader market amid weaker earnings, while analysts remain cautious about its future prospects.

NiSource Stock Outlook: Is Wall Street Bullish or Bearish?

NiSource has lagged behind the broader market over the past year, yet analysts remain highly bullish about the stock’s prospects.

International Business Machines Stock Outlook: Is Wall Street Bullish or Bearish?

International Business Machines has underperformed the broader market over the past year, but analysts are cautiously optimistic about the stock’s prospects....

What Are Wall Street Analysts' Target Price for Trimble Stock?

Trimble has underperformed the broader market over the past year, but analysts are highly optimistic about the stock’s prospects.

American Electric Power Stock: Is Wall Street Bullish or Bearish?

American Electric Power has underperformed the broader market over the past year, but analysts are cautiously optimistic about the stock’s prospects....

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