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Japanese Chief Cabinet Secretary Minoru Kihara: I hope the Bank of Japan will work closely with the government to formulate appropriate monetary policies to achieve the 2% inflation target in a stable and sustainable manner, and that inflation should not be driven by cost-push factors but by wage growth.On March 19th, the Reserve Bank of Australia (RBA) warned on Thursday that the Middle East conflict could trigger a severe international shock, but that Australian banks are well-positioned to support the economy should a significant downturn occur. In its semi-annual Financial Stability Review, the RBA listed a range of global vulnerabilities, including a potential collapse in financial markets, cyberattacks, and the spread of unconventional policies. This implies that the risk of a significant adverse shock to the domestic economy has increased in recent weeks. The RBA stated, "The Middle East conflict could trigger a larger shock, thereby disrupting the global economy, particularly given the continued supply disruptions in oil and other commodity markets… Given the significant increase in leverage and concentration in key global asset markets in recent years under low-risk premiums, this increases the likelihood of disorderly asset repricing in the event of further adverse developments." The RBA also stated that investments related to artificial intelligence could face a significant sell-off risk if productivity fails to improve as expected.March 19th, Futures News: Positive news in the oil market boosted bullish sentiment in the fuel oil market. Some downstream users moderately replenished their inventories at lower prices, while refineries were reluctant to sell at low prices, significantly pushing up the negotiation point. With major refineries in northern China about to shut down, the tightening supply of low-sulfur residue oil/asphalt is expected to further support the market. Fuel oil negotiations are expected to maintain a slight upward trend today.A chart summarizing the overnight price movements of international spot platinum and palladium.March 19 (Futures News) - Oil prices continued their upward trend, with strong cost support and tight international naphtha supply providing support for the PX market. However, there remains a risk of further reductions in PX supply, and PX prices are expected to rise today.

Despite a decline in the value of gold, silver prices are predicted to increase

Daniel Rogers

Jun 22, 2022 14:43

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Along with the majority of the precious metals complex, silver prices moved in a sideways direction. Following weaker-than-expected existing home sales, U.S. Treasury rates were restricted. Gold prices decreased, putting a ceiling on the precious metals complex.

 

According to the National Association of Realtors, existing home sales decreased by 3.4% in May to 5.41 million units at an annualized pace. Sales decreased by 8.6% compared to May 2021. This value is the lowest since June 2020. The decline in demand was likely due to the increase in mortgage rates. During the month of May, the average rate on a 30-year fixed mortgage increased from around 4 percent to 5.5%.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if required, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts provide spreads beginning at 0 pips and commissions of $3.50 every 100k transacted. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any nation or jurisdiction where distribution or use would violate local law or regulation.

Technical Evaluation

The price of silver inched up but remained above the 10-day moving average of 21.64. At the 50-day moving average of 22.52, there is observed resistance.

 

The recent crossing of the 50-day moving average below the 200-day moving average is negative for XAG/USD and indicative of bearish momentum.

 

As the fast stochastic created a crossing sell signal, short-term momentum has gone negative.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The trajectory of the MACD histogram is positive with an upward sloping trajectory, indicating that prices will increase.


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