Silver Micro Futures Market News and Commentary
The dollar index (DXY00) on Tuesday rose by +0.547 (+0.53%). The dollar Tuesday shook off early losses and moved higher on hawkish comments from New York Fed President Williams, who said he sees the Fed hiking to somewhat restrictive rates in 2023. The dollar remained firm the rest of the day as stocks gave up early gains and fell sharply, which boosted the liquidity demand for the dollar.
Fed comments Tuesday were bullish for the dollar. New York Fed President Williams said the U.S. economy is strong, and a recession is not in his base case. He added that the Fed has a path to bring inflation down, and he sees the Fed hiking to somewhat restrictive rates in 2023. Also, San Francisco Fed President Daly played down the risk of a U.S. recession, saying, "I wouldn't be surprised, and it's actually in my forecast, that growth will slip below 2%, but it won't actually pivot into negative territory."
Tuesday’s U.S. economic data was mixed for the dollar. On the positiv... Read more