Silver volatile, USD stronger
|Important news for the day
Fri, 6th, 14:30 CET CA Unemployment rate.
Fri, 6th, 16:00 CET US Consumer sentiment.
USD data
Due to the small recent partial shutdown in the US the NFP release will be delayed and only be released next week. Today’s data will mainly come from Canada, where the Canadian Dollar is looking to gear up strength against other currencies. The Loonie might gear up more momentum should the data come out better than expected. Furthermore the US prelim consumer sentiment might also offer more insights, whereby the focus will likely be shifted to next week.
Market talk
The volatile moves in the precious metals market continue to remain extremely high. Especially the price of Silver remains under pressure, while gold remains rather stable with a potential positive outlook. Oil prices came back to the upside and it still looks like a break higher mit be on the cards. Such move might be against the general trend, as stocks remain under pressure. The S&P 500 broke lower and also the Nasdaq is moving to the downside. However the general shift in markets continues to be positive. Defensive stocks have not lost much and metals and minerals companies as well as distributors remain strong.
Tendencies in the markets
- Equities weaker, USD stronger, crypto weaker, oil positive, Silver weaker, Gold positive.
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