EUR/USD 1.14330
0.030%
Gold 4124.41
0.020%
Oil 71.639
-0.031%
USD/JPY 162.348
-0.016%
GBP/USD 1.34119
0.028%
GBP/JPY 217.746
0.014%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
SK Hynix plans to raise 40 trillion won in its ADR listing, up from 43 trillion won previously.July 10th - According to the Congressional Budget Offices "June 2026 Monthly Budget Review," the U.S. federal budget deficit for the first nine months of fiscal year 2026 totaled approximately $1.4 trillion, an increase of $35 billion compared to the same period of the previous fiscal year. During the same period, federal revenue was $4.2 trillion, an increase of $142 billion, or 4%; expenditures were $5.5 trillion, an increase of $178 billion, or 3%.According to the Wall Street Journal, federal regulators are expected to certify the penultimate version of the Boeing 737 series later this month.On July 10, following the completion of its investigation, the United States decided to temporarily suspend tariffs on commercial aircraft, jet engines, and their components. President Trump instead instructed the government to negotiate with trading partners to adjust imports of these products. Previously, a report submitted by Commerce Secretary Rutnick concluded that imported commercial aircraft, jet engines, and related components posed a threat to U.S. national security. The findings of this investigation leave room for future tariffs—if the U.S. fails to reach an agreement with its trading partners to resolve the issue, Trump may take further tariff measures. According to a White House statement, if an agreement is not reached within 180 days, or if the agreement is deemed invalid, Trump "may also take other actions deemed necessary" to eliminate this threat.According to a document, the Sudanese military has set broadly acceptable conditions for the latest peace proposal from the United States demanding the withdrawal of the Rapid Support Force (RSF) from all occupied cities.

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