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ECB Governing Council member Koch said inflation will remain high for some time.On June 18th, Tai Hui, Chief Market Strategist for Asia at Morgan Asset Management, stated that at the first policy meeting chaired by newly appointed Federal Reserve Chairman Warsh, the FOMC unanimously decided to maintain the target range for the federal funds rate at 3.50%-3.75%. The signals from this meeting indicate that the Fed did not show any eagerness to ease monetary policy. Tai Hui further noted that the policy statement underwent a significant change in format, being about half the length of the previous version. Compared to the classic four-part detailed statement released in April, the latest statement was significantly streamlined and completely abandoned the previously implied dovish bias. At the same time, the descriptions of economic growth, the job market, and the inflation outlook were also noticeably more concise. He believes that at the current interest rate level, the FOMC seems willing to remain patient, thus maintaining the assessment that the Fed will not adjust interest rates this year.The Swiss National Bank (SNB) predicts that global economic growth may be more moderate in the short term than in previous quarters. However, growth is expected to pick up again in the medium term. The Swiss franc may face upward pressure again.The Swiss National Bank (SNB) warns that the situation in the Middle East could deteriorate again, further dampening global economic activity. In its baseline scenario, global inflation is expected to remain high in the coming quarters due to rising raw material prices.Swiss National Bank: Inflation growth is mainly attributed to rising petroleum product prices.

Predictions for the Silver Market: A Turbulent Time Ahead

Alina Haynes

Jul 22, 2022 14:58

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Silver fell during Thursday's trading session, but it recovered after the European Central Bank raised interest rates, which placed downward pressure on the US dollar. I believe it is only a matter of time until sellers re-enter the market and force this commodity lower since this is a market that continues to witness a lot of noisy activity. However, there are many grounds to believe that silver's value will decline below that of the dollar.

 

Silver's demand is expected to remain weak due to low consumer demand. At this point, I believe it is best to "fade the rise," since it will likely be just a matter of time until sellers re-enter the market. We're probably going to break up soon, and the $20 level above should provide a lot of resistance on the way up.

 

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It's conceivable that sellers will enter the market even if we break over the $20 level, and then the 50 Day EMA will come into play. The 50-day moving average (MA) is currently at $20.73, and it's falling. In the end, I believe that many individuals will rush into this market as soon as it shows indications of tiredness. If the price drops below the hammer's base, it would be reasonable to assume that the $15 support level will be quickly breached.


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