Loading ...The week’s big eco numbers come out in a couple of hours. We’ll have to see if the numbers come in favorable to the coming rate cuts or we get something different. I suspect they’ll come in soft enough to give the Fed what they need, pm’s seem to be anticipating that news as well.
Usually, these early up moves before news get reversed after the news comes out, although it didn’t recently when the CPI/PPI data came out, metals continued to move higher. The dollar is up a little this am, so if we are to continue higher, I’d guess it will turn south.
As Captain mentioned, we have a lack of liquidity at the moment, so any big up moves might be hard to sustain. They also could be exaggerated to the upside, that would be best case for us, but I wouldn’t bet on it.
Seems clear that yesterday was just a brute force move on silver and the shares, hopefully in advance of a move up today. Never know.