Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
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Markets have been a little quieter in recent days. With less than a week to go before the Fed decides the fate of the dollar, traders are keeping an eye on what few pieces of information remain to be released beforehand. The US labour market continues to provide mixed messages, as the ADP employment change revealed an unexpected loss of 32 thousand jobs on Wednesday, but on the other hand, jobless claims have fallen to a three-year low. Other pieces of the puzzle will be published later today, in the form of the September PCE price index and the Michigan Consumer Sentiment survey for December. Given that the PCE data will be two months out of date, it is unlikely to sway opinions too aggressively. The Fed has its own private sources of information, which it will no doubt be leaning on more heavily than it usually would, given the lack of public data in recent weeks. Fed funds traders are still pointing to an 87% chance of a 25-bps cut next Wednesday.
Silver came down from record highs yesterday following a bout of profit-taking. After hitting an intra-day high of $58.98 earlier in the week, the white metal fell 2.3% yesterday to close the session at $57.10 per ounce. Gold meanwhile has been completely flat over the past two days, allowing the gold-to-silver ratio to climb to levels that traders are more comfortable with. Platinum and Palladium also experienced minor selling pressure yesterday, but the real story is unfolding in copper, which rose above $5.30 this morning as metals traders anticipate possible supply complications due to tariffs.
Risk Warning : Trading derivatives and leveraged products carries a high level of risk.
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