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Silver (XAG) and other metals in focus as the Federal Reserve independance gets challenged
The most recent moves in the US Dollar may have mean-reverted in Forex markets, but the same can't be said about precious metals. They had been subject to some selling pressure ahead of the Jackson Hole Symposium but a conjunction of a dovish interpretation of FED Chair Jerome Powell's speech and growing concerns about the Federal Reserve's independance have brought demand back. A former Board member of the FED (able to vote at every FOMC meeting), Lisa Cook has recently been fired by President Trump "For cause" – She had been appointed by President Biden in 2022 and has been dissenting for rate cuts; but the ... (full story)
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Copper prices have come under fresh selling pressure today with the futures market pushing lower again. The move comes against the backdrop of a stronger US Dollar as traders continue to grapple with Fed easing expectations and a more uncertain outlook after Trump firing Fed’s Lisa Cook this week. Despite Powell signalling on Friday that the Fed is likely ...
