Silver Futures Market News and Commentary
The dollar index (DXY00) on Wednesday rose +0.183 (+0.20%). EUR/USD (^EURUSD) fell -0.0024 (-0.20%). USD/JPY (^USDJPY) rose +0.41 (+0.38%). The dollar index on Wednesday recovered from early losses and posted moderate gains. Hawkish Fed comments on Wednesday supported the dollar and a slide in stocks boosted the liquidity demand for the dollar.
EUR/USD (^EURUSD) on Wednesday fell moderately on weaker-than-expected Eurozone economic data and a slump in German bund yields. Eurozone June retail sales rose +1.5% m/m, slightly weaker than expectations of +1.7% m/m. The 10-year German bund yield on Wednesday dropped to a 6-month low of -0.515%. USD/JPY (^USDJPY) on Wednesday initially fell to a 2-1/4 month low after the 10-year T-note yield tumbled to a 5-1/2 month low, but USD/JPY recovered from its losses and moved higher after hawkish Fed comments boosted T-note yields and supported USD.
Wednesday’s U.S. economic data was mixed for the dollar. On the positive side,... Read more