EUR/USD 1.16878
-0.310%
Gold 4835.41
1.515%
Oil 60.600
1.928%
USD/JPY 158.280
0.090%
GBP/USD 1.34305
-0.088%
GBP/JPY 212.572
0.008%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The API crude oil inventory data for the week ending January 16 will be released in ten minutes.The API crude oil inventory data for the week ending January 16 will be released in ten minutes.1. Judges Attitude: A majority of Supreme Court justices were cautious about the governments arguments, believing that President Trumps firing of Federal Reserve Governor Cook could undermine the Feds independence and disrupt markets. 2. Court Duty: Conservative Chief Justice Roberts expressed unease about the notion that judges have no power to review presidential dismissal decisions, especially given that officials are protected under "justified" dismissal protections. 3. Procedural Criteria: Before proceeding to the discussion of the grounds for dismissal, Deputy Attorney General Sauls assertion that "Trumps social media posts can be considered formal notification" was challenged. Trumps appointee, conservative Justice Barrett, questioned why it was so difficult to give Cook an opportunity to present himself in person. 4. Definition of Grounds: The justices were cautious in defining clear boundaries for "justifiable grounds" for dismissing a Federal Reserve governor. They noted that Federal Reserve regulations do not, like other laws, specify concrete grounds for dismissal such as "inefficiency," "negligence," and "malfeasance." 5. Economic Concerns: Trumps conservative Supreme Court nominee, Kavanaugh, warned that the governments stance could "crush" the Federal Reserves independence and have long-term consequences, putting Deputy Attorney General Saul on the defensive. The justices are still weighing the limits. Cooks lawyer, Clement, emphasized that the key is to avoid giving the market the impression that the interest rate cuts are driven by political pressure. 6. Political Risks: Kavanaugh also worries that a ruling in favor of the government could set a precedent, allowing future presidents to arbitrarily find reasons to fire former Federal Reserve officials.The Dow Jones Industrial Average rose 588.64 points, or 1.21%, to close at 49,077.23 on Wednesday, January 21; the S&P 500 rose 78.76 points, or 1.16%, to close at 6,875.62; and the Nasdaq Composite rose 270.50 points, or 1.18%, to close at 23,224.82.U.S. natural gas futures prices rose to $5 for the first time since last December.

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.


Suggestion