Sliver price (XAG/USD) resumes its downside journey as the United States Bureau of Labor Statistics has reported an upbeat JOLTS Job Opening report. I
Upbeat job openings data indicate that labor demand by US employers improves.United States climbs above a fresh 11-month high at 107.20 on higher-than-expected job vacancies. The 10-year US Treasury yields jump to near 4.75%. Upbeat job openings data indicate that labor demand by US employers improves. This would elevate consumer spending as a significant demand for labor would be offset by offering higher wages from employers.
The S&P500 opens on a bearish note amid a cautious market mood. The escalating expectations about one more interest rate hike from the Federal Reserve in the remainder of 2023 have dampened the market mood.pattern on a daily scale, which results in a vertical sell-off. The white metal breaks sharply below the neckline of the aforementioned chart pattern plotted from June 23 low at $22.11. Potential support is placed from March 08 low at $19.93.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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