Silver rebounds above $66 as Fed hike odds cool
Silver climbed above $66 an ounce on Thursday, rebounding from two-week lows as the US dollar and Treasury yields retreated. September rate-hike expectations cooled after dovish Fed comments from Christopher Waller and John Williams.
Silver climbed above $66 an ounce on Thursday, rebounding from two-week lows as the US dollar and Treasury yields retreated from recent highs following dovish comments from Federal Reserve officials.
Markets scaled back expectations for a September rate hike after Fed Governor Christopher Waller said he sees continued progress on inflation and would support keeping rates unchanged if August data confirms the improvement.
His remarks followed comments from New York Fed President John Williams that inflation continues to ease as the impact of tariffs fades, while a weaker-than-expected ADP report pointed to a cooling labor market.
Traders now see roughly a 50% chance of a September rate hike, down from 62% before Waller's comments.
Investors await Friday's payrolls report and next week's inflation data for further clues on the Fed's policy outlook.