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Silver tops weekly range as weak US payrolls drag the dollar to two-week low

From vtmarkets.com

Silver climbed to the top of its weekly range as a weaker US Nonfarm Payrolls report pulled the US Dollar to a two-week low. XAG/USD was trading near $61.15, up almost 3.50% on the session, after the Bureau of Labor Statistics reported 57K jobs added in June versus expectations of 110K. May payrolls were revised down to 129K from 172K, while the Dollar index stood around 100.74 after easing from an intraday high of 101.43. Rate expectations adjusted quickly, with the CME FedWatch Tool showing September hike odds at 51% versus 63% before the release. Price action remained bounded by technical levels: silver stayed ... (full story)

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  • Category: Fundamental Analysis