Marc Chandler – Jobs Data Recap With A Focus On What’s Moving Commodities So Much Today
Marc Chandler, Managing Partner at Bannockburn Global ForEx and Editor of the Marc To Market website joins us to first recap the jobs data today that was mixed but in no way a bad number. This ties into a discussion on future Fed rate hikes and why a 50 basis point hike in December is likely. We then move over to the commodity sector which is experiencing a huge bounce. Gold is up almost 3%, silver up almost 7% and copper up 7.5%. A selloff in the US Dollar today is helping but “news” out of China, that was later pulled from the internet, could be the main driver.