Federal Reserve Policy and the Jobs Report
The Federal Reserve, of course, recently had comments coming from Kevin Warsh that the Fed was possibly even going to have to tighten further. This jobs report number, if it ends up being hotter than anticipated, could reinforce that, and it could cause major problems for silver, as well as other commodities.
Conversely, if that jobs report comes out cooler than anticipated, the market could turn around and see silver go flying towards the upside again as traders may change their bets on Federal Reserve policy.
Right now, the market is in a bit of flux. It’s almost as if some people don’t believe him, and the bond market certainly doesn’t. But at this juncture, traders will be very cognizant of the next data point, making Thursday a potentially choppy session.
