EUR/USD 1.13782
-0.434%
Gold 4121.13
-1.675%
Oil 73.083
-1.108%
USD/JPY 161.588
0.007%
GBP/USD 1.31820
-0.502%
GBP/JPY 213.012
-0.486%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 24th - The dollar hit its highest level since November on Tuesday as traders solidified their view that the Federal Reserve would raise interest rates this year. The Feds policy outlook contrasts with that of other central banks globally. Traders now expect nearly two 25-basis-point rate hikes in the US by early 2027. "The dollar has room to rise; it tends to strengthen before a Fed rate hike; the market is currently speculating that the rate hike cycle may begin in September," said Jordan Rochester, a strategist at Mizuho International. Meanwhile, the euro fell to its lowest point in a year after comments from European Central Bank President Christine Lagarde prompted traders to reduce their bets on rate hikes in the region. The yen continued to be pressured as markets perceived the Bank of Japans rate hikes as insufficient to curb the yens decline, keeping traders wary of potential foreign exchange intervention.Traders said the Argentine interbank peso closed down 0.61% at 1,471.5 pesos to the dollar, its lowest level in eight months.According to the Financial Times, SpaceXs (SPCX.O) $25 billion bond issuance attracted nearly $90 billion in subscription orders around noon local time.A Reuters/Ipsos poll shows that only 23% of Americans believe the postwar relationship between the United States and Iran is stronger, while 35% believe it is more fragile.A Reuters/Ipsos poll shows that 52% of Americans believe the Iran issue is not worth the price to pay, while 24% believe it is.

Silver Price Prediction - Silver Price Increased Due to Weak Dollar

Alina Haynes

May 12, 2022 11:03

On Wednesday, silver prices increased alongside the other precious metals. As yields decreased, the dollar declined. In spite of stronger-than-anticipated headline and core CPI reports, Benchmark rates declined today. Gold prices rose as the currency weakened.

CPI Rose Greater Than Anticipated

Wednesday, the U.S. Labor Department revealed April's CPI. The headline CPI came in at 8.3%, slightly lower than March but higher than the 8.1% experts had predicted. The study also revealed that the core CPI, excluding food and energy, rose by 6.2% year over year, which was greater than anticipated. The month-over-month growth also exceeded projections. The Bureau of Labor Statistics (BLS) stated that April inflation grew 0.3% on the headline CPI, compared to the 0.2% expected, and 0.6% on the core CPI, compared to the 0.4% expected gain.

Technical Evaluation

After falling, silver prices recovered, reclaiming short-term support near the September lows at 21.42.

 

Near the 20-day moving average of 23.52, there is observed to be resistance. The 20-day moving average has fallen below the 50-day moving average, indicating a medium-term decline. As indicated by the fast stochastic crossover buy signal, near-term momentum has turned positive. Prices are oversold since the fast stochastic is displaying a value of 13 below the oversold threshold of 20.

 

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.

 

image.png 


Suggestion