CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Trades Through Resistance

SILVER TECHS
  • RES 4: $21.540 - High Jun 27
  • RES 3: $21.242 - High Oct 4 and key resistance
  • RES 2: $20.499 - 76.4% retracement of the Oct 4 - 14 downleg
  • RES 1: $20.039 - 61.8% retracement of the Oct 4 - 14 downleg
  • PRICE: $19.684 @ 08:01 GMT Nov 2
  • SUP 1: $18.904/17.967 - Low Oct 31 / Low Sep 28
  • SUP 2: $17.562 - Low Sep 1 and bear trigger
  • SUP 3: $16.955 - Low Jun 15 2020
  • SUP 4: $16.473 - 1.00 proj of the Jun 6 - Jul 14 - Aug 10 price swing

The Silver outlook remains bearish, however, yesterday’s gains are a concern for bulls. The break above resistance at 19.780, Oct 26 high, signals scope for a stronger recovery and exposes $20.039 initially, a Fibonacci retracement. For bears, a resumption of weakness would instead refocus attention on the next firm support at $17.967, the Sep 28 low. Clearance of this level would open $17.562, the Sep 1 low and the bear trigger.

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