Silver Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose +0.222 (+0.23%). On Thursday, the dollar recovered from early losses and posted moderate gains. After posting moderate gains Thursday morning, stocks trended lower and gave up most of their advance, which boosted liquidity demand for the dollar. Lower T-note yields Thursday initially weighed on the dollar.
EUR/USD (^EURUSD) on Thursday fell -0.0032 (-0.28%). EUR/USD on Thursday gave up an early advance and fell to a 1-week low. Dovish comments Thursday from ECB Governing Council member de Cos undercut the euro when he said under current conditions and inflation forecasts, "an increase in interest rates is not expected in 2022." EUR/USD on Thursday initially moved higher on signs of elevated producer price pressures in Germany that are hawkish for ECB policy after Thursday’s data showed German Dec PPI rose a record +5.0% m/m and +24.2% y/y (data from 1976), stronger than expectations of +0.8% m/m and +19.3% y/y.
USD/JPY (^U... Read more