At-a-Glance
Today’s Top Highlights
*There will be no InFocus report tomorrow due to travel schedules*
Looking at the markets today, the precious metals are seeing the most volatility across the board with significant selling pressure. The Silver market is leading the selling trading lower by over 5% on the day while Copper and Platinum are also selling off by over 4% each. Gold is maintaining its price better than the rest, only seeing prices fall by about 1.5% as the Dollar is having a strong day. Gold and Silver specifically have been trading in a sideways pattern for the last 2 weeks, and this move is still within that sideways range and will need a catalyst to either help prices trade higher or continue the selling pressure even lower.
Equity markets are also seeing selling today but on a much lighter level with the Nasdaq leading the selling trading lower by about 0.7% There was some economic data released today with PPI coming in right in line with expectations and Initial Jobless Claims coming in worse than expected. Traders now are gearing up for the highly anticipated CPI report coming out tomorrow, giving us a better understanding on the current inflation. The FedWatch is currently pricing in a rate hike of 25 basis points at the meeting next week, but that figure has been volatile and is subject to change after CPI comes out tomorrow.
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