Gold: Opening this week at $1248.20 USD, gold did not move much until Thursday. Coincidental with the US airstrike against Syria, gold and the other metals climbed (gold to a 5 month high). Gold then dropped early Friday afternoon to close at $1255.24 USD (0.6% increase).
Silver: Silver opened at $18.24 USD, and like gold, did not move much until Thursday. Silver then climbed, but dropped dramatically Friday afternoon to close at $18.03 USD (1.2% decrease).
Platinum: Platinum opened this week at $952.50 USD, and moved laterally until Thursday. Platinum enjoyed a brief climb only to drop dramatically early Friday afternoon to close at at $955.55 USD (0.4% increase).
Palladium: Palladium opened at $799.00 USD, and like the other metals, moved laterally until Thursday’s airstrike. Palladium climbed, but ultimately dropped late Friday to close at and experienced a consistent climb to close at $803.55 USD (0.6% increase).
Critics are sceptical of the strength of the dollar in the wake of the announcement that the FOMC will trim its balance sheet, and the economic fallout from the most recent conflict in the Middle East.
The US Mint is marking 225 years since its establishment with a commemorative, high relief $100 American Liberty Gold Coin.
ISM Mfg Index (April 3, 2017 10:00 AM ET): For the first time in 7 months, the ISM Mfg Index beat the Econoday consensus, though it only exceeded the consensus by one-tenth of a percent. This report also marks the first time a month-over-month loss in months.
International Trade (April 4, 2017 8:30 AM ET): In a welcome turn of events, the International Trade report showed a significant drop in the trade deficit. Economists predicted a deficit of $-44.5 billion, but the report returned an actual deficit of $-43.6 billion. Some of this drop can be explained by a decrease in the demand for foreign autos. Exports changed very little from the previous month.
EIA Petroleum Status Report (March 29, 2017 10:30 AM ET): Petroleum inventories continue its bifurcated trend. Crude oil inventories increased this week, while gasoline and distillates both decreased. The increase in crude was, in part, a product of importation; indeed, crude oil imports tempered the significant decrease in foreign auto importation in the International Trade in Goods report.
FOMC Minutes (April 5, 2017 2:00 PM ET): It appears that the FOMC is determined to lower its balance sheet. This marks a significant change in the Fed’s reinvestment program. The Fed will be phasing out its holdings of treasuries and mortgage-backed securities.
Jobless Claims (April 6, 2017 8:30 AM ET): As an encore to the March 9th report, this Jobless Claims report showed another significant decrease in the number of claims filed for unemployment benefits.
Employment Situation (April 7, 2017 8:30 AM ET): Perhaps as a product of the March storms, the Nonfarm Payrolls index returned much lower than predicted. The unemployment rate, however, decreased two-tenths of a percent.
EIA Petroleum Status Report (April 12, 10:30 AM ET): This index reports the current inventories of crude oil, gasoline, and distillates as the number of barrels lost or gained.
Jobless Claims (April 13, 8:30 AM ET): This report returns that number of new claims filed for unemployment benefits over the previous week.
PPI-FD (April 13, 8:30 AM ET): This index reports the change in the cost of goods to domestic manufacturers. This is an important index because it is a measure of domestic and global inflation. The previous report showed a month-over-month 0.3% increase in the cost of goods, and a 2.2% year-over-year increase.
Consumer Price Index (April 14, 8:30 AM ET): This is a measure of the price of a fixed basket of goods to the consumer, and indicates either inflationary or deflationary economic conditions. The previous report showed an increase of 0.1%.
Retail Sales (April 14, 8:30 AM ET): This reports the total sales for goods and related services to end consumers as calculated from retail receipts. This report is used as an index of consumer sentiment.