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The Bank of Japan index continued its decline, last down 2.7%.Yoshimura Hirofumi, leader of the Japan Restoration Party: There are major differences with the Liberal Democratic Party on the issue of corporate donations.On October 17, analysts at JPMorgan Chase and Goldman Sachs estimated that the number of initial unemployment claims in the United States may have fallen last week, but many people are still unemployed due to weak hiring. According to their estimates, the number of initial unemployment claims in states fell to 217,000 in the week ending October 11 from 235,000 in the previous week after seasonal adjustment.On October 17, Euro Stoxx 50 index futures fell 0.6%, German DAX index futures fell 1%, and British FTSE index futures fell 0.8%.On October 17th, as news of bank loan defaults hit Wall Street, CNBC commentator Jim Cramer said the latest developments would pave the way for the Federal Reserve to cut interest rates, a move widely anticipated by investors. He said, "Todays market is indeed terrible, but at least we finally have a reason for the Fed to rush to cut rates sooner rather than later: bank loan defaults. Nothing prompts the Fed to act faster than credit losses, as they are a clear signal that the economy is heading for a downturn." On Thursday, US stock indices generally fell as investor concerns grew about the health of regional banks loan books. Cramer pointed out that non-performing loans are an early warning sign that it is time for the central bank to ease monetary policy. The banking system has "sufficiently accrued enough problem loans" within a week, which is enough for the Fed to cut interest rates quickly without worrying too much about inflation. He emphasized that lower borrowing rates not only stimulate the economy generally but also make it easier for borrowers to avoid default.

Price Prediction for Silver - Silver prices are scarcely altered prior to the important inflation measurement

Alina Haynes

May 11, 2022 10:25

As the currency weakened and rates plummeted, silver prices remained constant. Against other major currencies, the U.S. dollar declined somewhat. In the wake of the FOMC meeting, benchmark rates decreased because the Fed was less aggressive than the market had anticipated. After yesterday's 23-basis-point increase, the ten-year yield dropped below 3 percent.

 

Gold prices rose as the currency weakened. Given that tomorrow's US inflation report could affect the Fed's monetary policy, investors bought gold. Oil prices remain under pressure due to China's restrictions and a rising dollar, which has made oil more expensive for holders of other currencies.

 

As a result of Eastern European requests for exemptions and concessions, the oil embargo against Russia has been delayed.

 

The NFIB Small Business Economic Trends index remained unchanged from the prior month at 93.2. This indicator of small company confidence in the United States was below the 48-year average of 98.

 

This information indicates that small enterprises are struggling to combat rising inflationary pressures. Small enterprises face increased labor expenses and a labor scarcity, which exacerbates their economic difficulties.

 

Wednesday's announcement of inflation data will certainly influence the Fed's policy decision at the next meeting.

Technical Evaluation

The price of silver remains below $22. A sustained breach below the $22 level will indicate further fall and favor bearish traders in the AG/USD market. Additional selling might cause silver to hit the December bottom around $21.40.

 

The metal is likely to experience further declines near the $21 level and approach the $20 psychological threshold.

 

Near the December 15th low of 21.49 is support. Near the 10-day moving average near the 10-day moving average of 22.57, there is observed resistance. The short-term momentum is negative as the fast stochastic signaled a sell crossover.

 

The medium-term momentum has become negative as the histogram and MACD both print in a negative direction (moving average convergence divergence). The MACD histogram is moving in a negative direction, reflecting the downward trend in price movement.

 

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