Palladium surges 2% to record highs as dollar tumbles

Economies.com
2018-12-04 14:55PM UTC

Palladium prices rose in American trade to fresh record highs, while the dollar index fell off November 13 highs for the fourth session out of five, after a speech by Fed Chair Jerome Powell earlier. 

 

As of 02:50 GMT, palladium rose 1.64% to $1,225.43 an ounce, marking record highs, while the dollar index slid 0.44% to 97.61 to November 22 lows. 

 

Federal Reserve Bank of New York President John Williams is due to hold a press conference about local employment and labor force trends at the Federal Reserve Bank of New York. 

 

A scheduled Congress testimony by Fed Chair Jerome Powell tomorrow Wednesday was delayed after President Donald Trump declared the day an official holiday in honor of late President George H.W Bush. 

 

Later this week, Powell will speak about the economy and rural America at the Housing Assistance Council's annual event, in Washington DC, while the payrolls report is expected to show no change in the unemployment rate at 3.7%. 

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