Commodities
Silver Rebound Falters Amid Weaker Labor Data and Iran Escalation
Silver prices have stabilized at around $64 an ounce after a recent selloff following weaker-than-expected US labor data. The US private businesses added 38,000 jobs in August, below expectations of 47,000, indicating a broader cooling in the labor market.
The Federal Reserve's rate outlook has seen a shift, with investors reassessing the chances of a September hike. According to the CME FedWatch Tool, markets now price in a 66% chance of a September Fed hike, up from around 40% a week ago.
The dollar remains strong due to safe-haven demand amid concerns over the economic impact of the energy shock and diverging monetary policy paths. The recent escalation between the US and Iran has also contributed to this sentiment.