Housekeeping: Good Morning.
“The reset is a process, not an event”
Topic:
Silver Surge
Fed Day
Market Analysis:
GoldFix PM: The Silver Bull Begins
Silver led the action yesterday, defying risk-off flows and moving higher even as broader markets were pulled in opposing directions by weak macro data and fresh geopolitical shockwaves
Silver began its rally early in the European session, with buying pressure accelerating around 5 a.m. ET, shortly after the London market opened. Prices jumped from $36.54 to $37.16 in under an hour, ultimately hitting a high of $37.25 by midday before settling just below that at $37.09. That represents a 1.5% gain, outperforming all other major metals.
Full analysis in the Premium post GoldFix PM: The Silver Bull Begins
Stocks are very dovishly biased these past two weeks. There is one reason to not be so biased bullish. The Fed Dot Plot still shows a bias of 2 rate cuts this year. All eyes will be on that for revisions downward towards one cut, which is increasingly likely given the clock is now at midyear.
Continues in Premium’s FOMC: Powell's Risks Contradicting himself today
Related Posts:
Coming Soon:
Lots…
Data on Deck: Fed Week
MONDAY, JUNE 16 8:30 am Empire State manufacturing
TUESDAY, JUNE 178:30 am U.S. retail sales
WEDNESDAY, JUNE 18 8:30 am Housing starts, 2:00 pm FOMC rate decision
THURSDAY, JUNE 19 None scheduled, Juneteenth holiday
FRIDAY, JUNE 20 8:30 am Philadelphia Fed survey
Full calendar1
Summary and Final Market Check…
June 30th for Silver
BRICS Summit Starting Soon
MONDAY, JUNE 168:30 amEmpire State manufacturing surveyJune-6.0-9.2
TUESDAY, JUNE 178:30 amU.S. retail salesMay-0.6%0.1%8:30 amRetail sales minus autosMay0.2%0.1%8:30 amImport price indexMay-0.2%0.1%8:30 amImport price index minus fuelMay--0.4%9:15 amIndustrial productionMay-0.1%0.0%9:15 amCapacity utilizationMay77.7%77.7%10:00 amBusiness inventoriesApril0.0%0.1%10:00 amHome builder confidence indexJune3634
WEDNESDAY, JUNE 188:30 amHousing startsMay1.37 million1.36 million8:30 amBuilding permitsMay1.44 million1.41 million8:30 amInitial jobless claimsJune 14250,000248,0002:00 pmFOMC interest-rate decision2:30 pmFed Chair Powell press conference
THURSDAY, JUNE 19None scheduled, Juneteenth holiday
FRIDAY, JUNE 208:30 amPhiladelphia Fed manufacturing surveyJune-1.0%-4.010:00 amU.S. leading economic indicatorsMay-0.1%-1.0%
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