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On February 25th, former Bank of Japan Governor Haruhiko Kuroda stated that given the already strong economic situation, it is necessary to continue raising interest rates and tightening fiscal policy. He warned that Prime Minister Sanae Takaichis massive spending plan could trigger overheated inflation. Kuroda is known for his aggressive monetary stimulus policy launched in 2013, a key component of former Prime Minister Shinzo Abes "Abenomics" reflation strategy. He stated that with robust economic growth and steady wage increases, the Bank of Japan may raise interest rates approximately twice a year in 2026 and 2027. "Today, Japan faces inflation and a depreciating yen. Japan needs to shift to tighter fiscal and monetary policies. The Bank of Japan must gradually raise interest rates to a neutral level. Fiscal policy must also be tightened. I have doubts about whether increasing spending and tax cuts are appropriate." Kuroda warned that expansionary fiscal policy could backfire, exacerbating inflationary pressures and pushing up bond yields.Former Bank of Japan Governor Haruhiko Kuroda: Japans economy is in good shape, and it needs to tighten fiscal and monetary policies.Former Bank of Japan Governor Haruhiko Kuroda: The Bank of Japan is likely to raise interest rates twice a year in 2026 and 2027, bringing the rate up to around 1.5% to 1.75%.Former Bank of Japan Governor Haruhiko Kuroda: The yen is "somewhat too weak" at around 157 against the dollar recently.Former Bank of Japan Governor Haruhiko Kuroda: Japanese Prime Minister Sanae Takaichis spending and tax cut plans could exacerbate inflation and push up bond yields.

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.

 

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