Palladium climbs for first session in four, dollar retreats

Economies.com
2018-11-13 14:56PM UTC

Palladium prices rose over one percent in American trade as the dollar index backed off January 2017 highs, in a day that lacks major data releases from the US. 

 

As of 02:51 GMT, palladium rose 1.21% to $1,111.06 an ounce, while the dollar index slipped 0.25% to 97.30 away from early 2017 highs. 

 

Now Investors await Federal Reserve Bank of San Francisco President Mary Daly's speech about the economic outlook at the Regional Economic Development for Eastern Idaho Conference, later today.

 

Yesterday, Federal Reserve Bank of San Francisco President Mary Daly dismissed concerns over the latest tumbles in the stock market, adding there was consensus that stocks were overvalued and a correction was a positive development overall.  

 

The Federal Reserve voted at the November 7-8 meeting to maintain interest rates at below 2.25% as expected by market analysts, while vowing to carry on the path of policy tightening.  

 

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