After closing the previous trading day at $1,416.8, the Palladium future is up to $1,429 per troy ounce, which makes for a move of 0.86%/$12.2 today.

United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 240,000.

On the flip side, United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.

At the same time, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25. United States ISM Non-Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 51.9, while the previous figure was 51.2.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that the Palladium future's lower Bollinger Band® is at $1,388, indicating that the market is oversold and fertile for new buyers.

With market volatility ebbing, the current technical outlook indicates the Palladium future will remain range-bound for the immediate future.

This rally in Palladium's price coincides with other Metals as Silver is up 1.5%. Copper is up 1.4%. Gold is up 0.65% to $2,050.2.

Furthermore, the market is looking at United States Non Farm Payrolls projected to decline to 180,000 while previous data was 236,000; data will be released tomorrow at 12:30 UTC. Today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 240,000 from the preceding figure of 230,000. United States Unemployment Rate projected to come out at 3.6 — worse than previous data of 3.5; data will be released tomorrow at 12:30 UTC.

Palladium has fallen back around 38.96% from the significant high of $2,321.2 set 6 months ago.