Trader’s Timeout: Plunging Dollar a Boon for Commodities
Posted: Thu Sep 08, 2016 1:46 pm
This article was written by Evdokia Pitsillidou, Risk Management Associate at easyMarkets.
Commodities from crude oil to gold and silver surged this past week, as the US dollar was crushed by disappointing nonfarm payrolls that all but assured investors the Federal Reserve would not raise interest rates this month.
US employers added 151,000 nonfarm payrolls in August, slightly below forecasts calling for 180,000 and well below levels the Fed would consider strong enough to raise rates at its next meeting September 20-21. Currently, traders are pricing in a less than one-in-five chance the Fed hikes rates in ... (read more)