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December 9th - The Reserve Bank of Australia (RBA) failed to deliver an early Christmas "gift" to mortgage holders, keeping interest rates unchanged at its final meeting of the year. In Tuesdays widely anticipated, unanimous decision, the Monetary Policy Committee maintained the cash rate at 3.6%. Rising inflation in the second half of 2025 dashed market hopes for further rate cuts, after the RBA had already cut rates by a total of 75 basis points since February. The interest rate market and most economists now believe that the RBAs easing cycle has ended. Some analysts pointed out that if inflationary pressures continue to rise, the central bank may be forced to raise rates as early as February next year. Domains chief economist, Nicola Powell, said the shift in interest rate expectations could help alleviate the pressure of rapidly rising housing prices over the past year.Reserve Bank of Australia: Global economic uncertainty remains significant, but so far, it has had little impact on overall growth and trade with Australia’s major trading partners.The Reserve Bank of Australia (RBA) believes that some of the recent rise in core inflation is due to temporary factors.The Reserve Bank of Australia: The Committee is focused on achieving its mission of price stability and full employment and will take the measures it deems necessary to achieve this goal.The Reserve Bank of Australia (RBA) stated that the committee will closely monitor data and evolving assessments of the outlook and risks to guide its policy decisions.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.


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