Silver Micro Sep '24 (SOU24)
Silver Micro Futures Market News and Commentary
The dollar index (DXY00) today is up by +0.17%.  The dollar recovered from a 6-week low today and is moving higher on better-than-expected US economic news. Weekly jobless claims fell more than expected, and the Apr Philadelphia Fed business outlook survey unexpectedly rose to a 15-month high. Also, hawkish comments today from New York Fed President John Williams, who signaled he favors steady Fed policy, are supportive of the dollar.
The dollar initially moved lower today as the US and Iran are considering extending their ceasefire, which ends on Tuesday, by another two weeks to allow more time to negotiate a peace agreement, easing geopolitical concerns and reducing safe-haven demand for the dollar.Â
US weekly initial unemployment claims fell -11,000 to 207,000, showing a stronger labor market than expectations of 213,000.Â
The US Apr Philadelphia Fed business outlook survey unexpectedly rose by +8.6 to a 15-month high of 26.7, stronger than expectations of a de... Read more
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