Precious metals bounced back a bit today after suffering major losses only a day ago. Though the marketplace was a good bit quieter than it was on Tuesday, the rest of the week is set to bring about a flurry of investing activity due to the release of a few key economic reports from the US and an important meeting being held by the European Central Bank.
What’s more, the crisis in Ukraine is back in the headlines, this time due to talk of a potential ceasefire agreement being reached. Shortly after US markets opened this morning, reports streamed in claiming that Russia and Ukraine had agreed to a ceasefire that would bring about calm to much of the war-torn parts of Eastern Ukraine. Unfortunately, shortly after these news stories broke, Russian sources claimed that the Russian government knew nothing about a ceasefire. As we head into the final two days of the week, investors the world over will be wanting to find out just a bit more about what exactly is going on in Eastern Europe.
Busy Ending To A Short Week
This week may only be packing in 4 days, but these 4 days are shaping up to be a good bit busier than the last two weeks combined. Not only have we already been dealt a decent bit of economic data from the US and around the world, but there is more to come.
Tomorrow, the marketplace will see its focus shift towards the monthly meeting of the European Central Bank. Most every ECB meeting is hawked over by investors, but this one in particular will be important due to the simple fact that more monetary stimulus may be on the table for the EU. If you remember back to a few weeks ago in Jackson Hole, Wyoming, ECB president Mario Draghi stated that more monetary stimulus may be in the future for the EU. Though there is no saying for sure whether that new stimulus will be announced tomorrow or not, investors will be paying attention nonetheless.
On Friday, the market’s attention will again shift, this time to the release of the US employment report from August. As it stands, the market is expecting at least 215,000 jobs to have been added. If the actual figures meet or exceed expectations, you can expect more selling pressure to be piled on gold and silver.
Though there is no saying for sure how the rest of this week will pan out, I am certain that things will be eventful and worth paying attention to.