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Silver Squeezes Higher as USD Slumps

From axioryintelligence.com

It looks like the recent rally in the USD could be over for now as investors have decided to start taking profits, bringing the EURUSD pair up 0.25%, while the GBPUSD pair rose to 1.08. A weaker USD generally leads to an optimistic sentiment, helping stocks and commodities, today pushing silver up nearly 2% during the US session. According to the monthly statistics released by the US Census Bureau on Tuesday, orders for durable goods in the US decreased by 0.2%, or $0.6 billion, in August to reach $272.7 billion. This result was better than the market’s forecast of a 0.4% decline. Based on the report, new orders went ... (full story)

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  • Category: Technical Analysis