Loading ...PMs Puking
After the Fed announce another 0.25% rate cut. Somewhat counter-intuitive, but it’s all about the forward look and expectations for the future. Stock markets and Dollar rise as the Fed provides support yet again. Room for manoeuvre during a possible economic downturn is now very limited. Let’s see how this plays out, and where we close at the end of the week. A sharp reversal wouldn’t surprise me at all, but $1450 is looking likely…
Edit: Reversed already. Let’s see how things move in the next day or two before drawing any conclusions.
That’s not what energy is saying…
Initial ‘turbulence’ following the announcement needs to settle down. It can take a little while before the true reaction becomes clear. I’m very clear that PM’s are in a bull market, commodities as represented in the indices are about to start a bull run, and the US Dollar is breaking down. Until/unless any of my long term, large pattern trendlines break, that will remain my view.
Anything under weekly candles, mostly noise. Albeit, that can eventually build up and spill over on higher time frames… but until that candle closes, it’s noise.
Thanks NS next leg down for the USD…?
Well, we’re seeing a fast reversal right now, with gold recovering its losses, and a falling Dollar. Interesting times.
Keeps us wondering.
hawkish money printing?
Not sure … strong close for miners metals … appears miners are headed higher. Obviously we’ll know more in the morning, but nothing the FED said will hold them back IMO. If anything the’re holding back the general markets with their “rate pause.” I think metals/miners sniff out commodity inflation next … if the dollar drops, that much more wind behind gold/silver.
Even the silver junior miners agree! Looking great.