TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

Palladium Prices See Technical Rebound as Dollar Continues Rally

Mount Equity Group Tokyo, Japan > News > Markets > Palladium Prices See Technical Rebound as Dollar Continues Rally

Ask palladium traders, and they’ll tell you that the semiconductor shortage isn’t just punching the automotive industry in the gut. There could be signs of life, however, with a recent technical rebound amid a rallying dollar.

Monday’s trading session saw the dollar gain strengthen as investors expect the Federal Reserve to follow through with its stimulus tapering measures. As a CNBC report noted, “Palladium advanced 1.6% to $2,110.93 per ounce, with analysts attributing the bounce to short-covering after recent declines, while platinum was last down 1.8%, to $1,008.17, after hitting a 2-month peak earlier.”

The report also said that palladium could be hitting a technical rebound as it touches its support levels (around $1,870). For the past few years, palladium was on a tear until a semiconductor shortage this year began affecting the auto industry, which relies on the metal to make emissions control…

Read more…