Silver prices climbed toward $38.5 per ounce on Monday, building on recent gains as the US dollar and Treasury yields retreated amid growing expectations for a Federal Reserve rate cut. Fed Governor Christopher Waller reiterated his support for easing in July, pointing to a weakening labor market and declining inflation risks. He also downplayed the inflationary impact of tariffs, calling it temporary, and said there are no signs of rising inflation expectations, giving the Fed room to act. Additional support for silver came from China, where the industry ministry pledged to stabilize...
ECB and PMIs in focus this week,The focus in Europe will be on Thursday's European Central Bank meeting. We doubt ECB President Christine Lagarde will shake things up too much ahead of the central bank's summer break, although there may be some continued concerns over recent euro strength and particularly the direction of tariffs. The mood music on EU tariffs seems poor at the moment, and the kink in the EUR/USD FX options implied volatility curve in the two-week tenor suggests investors are again wary of the new 1 August tariff deadline." "In addition to the ECB this week, we have the...
Oil prices dipped slightly on Monday, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while U.S. tariffs ensure demand concerns remain. Brent crude futures dropped 38 cents, or 0.55%, to $68.90 a barrel by 0925 GMT after settling 0.35% down on Friday. U.S. West Texas Intermediate crude declined 30 cents, or 0.45%, to $67.04 after a 0.3% decline in the previous session. The European Union on Friday approved the 18th package of sanctions against Russia over the war in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products...