MCX Silver Alert : Watch High 37985, Told You Above 37833 one Side Really Side Really For 38200—38800 – U.S. private sector business activity had slowed to a 17-month low in September, investors looked ahead to the next Fed?policy decision?to be announced on Sept. 26.
China’s moves to boost domestic consumption also helped bolster the dollar rally driven by investor bets that the latest U.S.-China trade salvoes were unlikely to dent global growth.
Read More : MCX Alert – Silver Watch 37833, If Above Hold and Close – We See One Side Really For 38200—38800 – Neal Bhai
China retaliated by putting tariffs on $60 billion in U.S. goods. However, China will put a 10% tariff on some goods it had previously earmarked for a 20% levy. Hedge funds and money managers trimmed their net short positions in silver futures and options, CFTC said.
Hedge funds and money managers cut their net short position in silver by 1,224 contracts to 45,057 contracts, CFTC data showed. Investors await Federal Reserve meeting, where the U.S. central bank is widely expected to raise benchmark interest rates.
The dollar’s status as the chief reserve currency makes it the prime beneficiary of U.S.-China trade conflict, with the United States seen as having less to lose. On Monday, the U.S. slapped tariffs of 10% on $200 billion in Chinese goods, before they rise to 25% by the end of 2018, rather than an outright 25%. – Neal Bhai Reports
