EUR/USD 1.16040
-0.061%
Gold 4373.93
1.331%
Oil 95.848
-4.654%
USD/JPY 153.587
-0.536%
GBP/USD 1.35212
0.078%
GBP/JPY 207.673
-0.462%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Sources say the U.S. House of Representatives plans to vote on a sanctions bill against Russia next week.Market news: A US court blocked Trumps executive order to keep a coal-fired power plant in Michigan running.September 11th - SpaceX has grand plans for Starship. If all goes according to plan, this 407-foot-tall rocket will one day be used to build an orbital network of artificial intelligence data centers and send humans to the Moon and Mars. But first, the company plans to use Starship to launch a new and improved batch of Starlink satellites—its cash cow. SpaceX plans to launch its first V3 satellites into orbit in a key Starship test flight as early as next week. Getting Starship operational as envisioned is crucial for SpaceX and its shareholders. The company needs Starship not only to revitalize its own Starlink communications network—which contributed nearly 55% of the companys revenue in the second quarter—but also to launch satellites for a range of commercial purposes. Then, perhaps its most lucrative mission: launching a futuristic orbital data center into space, which SpaceX says could help tap into the $26.5 trillion artificial intelligence market.On September 11, White House National Economic Council Director Hassett downplayed concerns that President Trumps proposal to send $5,000 checks to every American adult would exacerbate concerns about the governments historically high borrowing levels. "We can do this in a fiscally responsible way. Its a serious proposal," Hassett said. He argued, "Because of all the growth and wealth created in America, the president believes we need to return more wealth to the American people. One way is through a reconciliation bill—a legislative mechanism that the House and Senate majority can use for fiscal packages, bypassing the need for an opposition vote." When pressed on what offsetting measures might be paired with these checks—which would add more than $1 trillion to the federal debt burden at a record high—Hassett said it would have to be "negotiated with Congress." Analysts are skeptical about the feasibility of the $5,000 payment, following a lukewarm response from top Republican members of the House and Senate to the idea.1. Iranian Foreign Ministry spokesman Baghae announced plans for a regional meeting involving Gulf states. He stated that this meeting is an important development and hopes it will enhance mutual understanding among regional countries and contribute to strengthening regional security. Iran, Iraq, and other Gulf states will participate in the meeting, which will be held next Monday in Oman. 2. The US unadjusted CPI rose 0.4% month-on-month in August, the highest since June, in line with expectations, compared to 0.1% previously. The US unadjusted CPI rose 3.4% year-on-year in August, in line with expectations and unchanged from the previous month. 3. The US seasonally adjusted core CPI rose 0.3% month-on-month in August, the highest since May, higher than the market expectation of 0.2%, compared to 0.2% previously. The US unadjusted core CPI fell to 2.4% year-on-year in August, declining for the third consecutive month and reaching its lowest level since April 2021, in line with expectations, compared to 2.5% previously. 4. According to the U.S. Department of Agriculture: For the week ending September 3, U.S. net export sales of corn for the 2026/2027 marketing year were 1.929 million tons, compared to 1.986 million tons the previous week; U.S. net export sales of soybeans for the 2026/2027 marketing year were 2.637 million tons, compared to 1.948 million tons the previous week. 5. Following the release of the U.S. August CPI data, according to CMEs "FedWatch," the probability of the Federal Reserve maintaining interest rates unchanged through September is 11.2%; the probability of a cumulative rate hike of 25 basis points is 88.8%. 6. The Houthi rebels in Yemen issued a statement announcing a large-scale multi-front military operation launched on September 3, aimed at driving Saudi forces out of parts of the west coast.

Forecast for Silver Price: XAG/USD is rising quickly and is approaching the $20.00 mark

Alina Haynes

Sep 15, 2022 11:43

 157.png

 

Silver price recovers around the 50-day exponential moving average and advances towards a daily high of $19.69 on Wednesday after the US Labor Department reported that August PPI was in line with predictions of diminishing inflationary pressures on the producer side. Therefore, the XAG/USD is trading at $19.61, 1.86% higher than its initial price.

 

Before Wall Street opened, the Bureau of Labor Statistics (BLS) of the United States reported that the Producer Price Index (PPI) for August decreased by 0.1%, in line with expectations, while the year-over-year figure fell to 8.7%, less than the 9.8% reported in July. Meanwhile, the so-called core PPI, which excludes volatile goods, increased by 0.4% month-over-month and 7.3% year.

 

In the meantime, the US Dollar Index, a measure of the dollar's value against a basket of six currencies, ended Wednesday's session down 0.15 percent, at 109.648, weighed down by US Treasury yields, particularly the 10-year benchmark note rate, which remained unchanged throughout the day at approximately 3.404%.

 

The US Dollar Index reflects the aforementioned by declining by 0.09% and falling below the 110.000 barrier. Similarly, the US 10-year benchmark note rate exhibits signs of weariness, remaining flat at approximately 3.414%.

 

The fact that US 10-year TIPS yields, a proxy for actual yields, rose by only one basis point to 0.939% was a further factor supporting the white metal price.

 

On Thursday, the US economic calendar will contain jobless claims, retail sales, and the New York and Philadelphia Fed Manufacturing Indices, which will serve as a precursor to the ISM report in October.

 

The daily XAG/USD chart depicts the white metal as neutral to bearishly biased. Nonetheless, if silver buyers recapture the $20,000 threshold, this might pave the way for a test of a four-month-old downslope trendline near $20.20 prior to reaching the 100-day EMA at $20.39. A breach of the latter will reveal the cycle high from August 15 at $20.87, ahead of the psychological milestone of $21.00.


Suggestion