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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