Thursday, June 4, 2015
The Bank of England kept its key interest rate the same this morning and reported the same level of asset purchases.
The Bank of England kept its key interest rate the same this morning and
reported the same level of asset purchases. The US Jobless Claims
report came in close to expectations. We remain at the status quo level
and though there have been
attempts to the downside gold for instance is still stuck within the
recent ranges. We will need to see a real breakdown below 1176 to see
the bears take any stronghold on direction. It seems the market wants to
keep trying lower but buyers especially in the
New York market view every dip as another opportunity to buy in at
discount levels. The US dollar has not moved significantly the last
couple of days and most likely is waiting on tomorrow’s Unemployment
report to give direction.
Tuesday, June 2, 2015
The US dollar came under some pressure this morning from what appears to be positive numbers for the Euro Zone.
The
US dollar came under some pressure this morning from what appears to be
positive numbers for the Euro Zone. Their Producer Price Index was
lower than expectations while the Consumer Price Index was higher than
expected creating a better
atmosphere for business in their market. Meanwhile in the USA the
Factory Orders report surprised downward
-.4% which
has added downward pressure on the US Dollar as well. Hence the
precious metals are higher today, but guess what the anchor is still
down and we are not far from the dock.
Most Important data this week will be this Friday’s Unemployment reports.
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