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Documents show that Indian fintech company Paytm has approved the issuance of 347,475 new shares to its employees.July 3rd - Nick Timiraos, a well-known mouthpiece for the Federal Reserve, stated that Trump believes Fed Chairman Warsh is a dovish figure within the Federal Open Market Committee (FOMC). This comes a day after White House National Economic Council Director Hassett made similar remarks; and a week earlier, Treasury Secretary Bessant stated that he hoped the Fed would remain "open" to inflation and expected the Fed to ease policy this year. A new era of "forward guidance"...On July 3rd, the Hainan Provincial Housing Provident Fund Management Bureau issued a notice regarding the withdrawal of housing provident funds to pay property management fees. The notice clarifies that contributors can apply to withdraw their housing provident funds once a year to pay property management fees for any owner-occupied residential property under their familys name in Hainan Province. Owner-occupied residential properties do not include self-built houses, shops, office buildings, or commercial properties such as timeshare hotel rooms. It is worth noting that if the contributors family has an outstanding housing provident fund loan in Hainan Province, the combined balance of the contributors and their spouses accounts after applying for the property management fee withdrawal must be sufficient to repay three months of the loan.July 3 – Allianz Chief Economist Ludovic Subran stated, “The US non-farm payroll data was actually weak, but I still believe inflation will peak above 3.7%, and artificial intelligence, fiscal stimulus, and the energy sector continue to support economic growth. The Fed may have to raise rates in September. I think this is the real point of contention between the US and Europe.” Subran believes that the European Central Bank will not take further action after last months rate hike. “That was an insurance-style rate hike, but judging from the current data, it seems to be over,” he said. “The traumatic effects of the (Iranian) war will take time to manifest; the economy is still bearing the costs of the war, but the situation is much better now than it was a few weeks ago.”NATOs Deputy Supreme Allied Commander Europe: Europe has increased its investment. Europe is filling the gaps left by the US repositioning its troops.

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

Alina Haynes

Sep 15, 2022 11:43

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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.


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