Silver Price Forecast: Weak NFP pushes XAG/USD to the top of its weekly range
From fxstreet.com
Silver (XAG/USD) climbs to the top of its weekly trading range on Thursday as the US Dollar (USD) slides to a two-week low after US Nonfarm Payrolls (NFP) data surprised to the downside. At the time of writing, XAG/USD trades around $61.15, up nearly 3.50% on the day. Data released by the US Bureau of Labor Statistics (BLS) showed the US economy added just 57K jobs in June, well below market expectations of 110K. Meanwhile, May's payrolls were revised down to 129K from the previously reported 172K. Traders quickly scaled back expectations for a Federal Reserve (Fed) rate hike at its September policy meeting, with the ...
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