The dollar is looking weak but so far support has held. If the dollar continues to weaken, expect the metals to extend their rebounds but, if the dollar starts to get some lift, it could put an end to the rebound in metals prices.
Orders to U.S. Factories Rose 0.8% in May
Orders placed with U.S. factories increased in May, indicating manufacturing may rebound from a slowdown in economic growth in the first half of 2011. Bookings for manufacturers’ goods rose 0.8 percent, less than forecast, after a revised 0.9 percent decline in April that was smaller than previously estimated, figures from the Commerce Department showed today in Washington. Demand for durable goods that are meant to least at least three years increased 2.1 percent, while unfilled orders climbed the most since September. Manufacturing is showing signs of recovering from parts shortages linked to the earthquake and ... (full story)