Friday’s strong U.S. data may support the dollar, as the University of Michigan’s Consumer Sentiment Index rose to 60.5 in June from 52.2, beating forecasts of 53.5 and marking the first gain in six months.
Geopolitical tensions continue to drive safe-haven demand, especially for silver. Israel struck Iranian nuclear and missile sites Friday, killing military officials. On Sunday, Iran began its fourth phase of response, warning of firm retaliation to further Israeli actions.
Markets now turn to Wednesday’s Fed meeting. While rates are expected to stay unchanged, futures still price in two cuts this year, possibly starting in September, supported by last week’s soft inflation data.
Resistance is set at 36.90, while support stands at 35.40.
Geopolitical tensions continue to drive safe-haven demand, especially for silver. Israel struck Iranian nuclear and missile sites Friday, killing military officials. On Sunday, Iran began its fourth phase of response, warning of firm retaliation to further Israeli actions.
Markets now turn to Wednesday’s Fed meeting. While rates are expected to stay unchanged, futures still price in two cuts this year, possibly starting in September, supported by last week’s soft inflation data.
Resistance is set at 36.90, while support stands at 35.40.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.