EUR/USD 1.14731
-0.330%
Gold 5085.69
0.122%
Oil 93.426
-1.862%
USD/JPY 159.269
-0.045%
GBP/USD 1.32729
-0.519%
GBP/JPY 211.401
-0.513%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Mexican Central Bank Deputy Governor Heath: The next decision should suspend the reduction of the benchmark interest rate.Fed mouthpiece Nick Timiraos: But core goods and core non-housing services are significantly above pre-pandemic equilibrium levels, which remains a challenge to returning to the 2% inflation target. One or both of these need improvement.March 13 – Job openings and layoffs in the U.S. increased in January, indicating improved demand for labor before recent signs of weakness in the labor market resurfaced. Data released Friday by the Bureau of Labor Statistics showed that job openings rose to 6.95 million from 6.55 million in December, exceeding market expectations. The report also included an annual revision to the job openings data, with downward revisions to the figures for most of 2025. While the slight improvement in job openings in January did not translate into significantly more hiring, consistent with the still relatively fragile labor market conditions. Recent data showing a decline in nonfarm payrolls and a rise in the unemployment rate in February, along with reduced hiring plans by small businesses, have shaken previous assessments that the labor market was stabilizing. The increase in job openings came from multiple sectors, including finance and insurance, healthcare and social assistance, retail trade, and accommodation and food services.Trump: (Regarding the "Save America Act") Leaders must find enough votes.On March 13th, Bank of America stated that the Federal Reserve will have to deal with another supply shock—soaring oil prices. In the Summary of Economic Projections (SEP) released ahead of the Feds March meeting, both overall and core inflation forecasts are likely to be revised upwards. The Bank of America report stated, "If long-term growth expectations are also revised upwards, we expect the median dot plot of long-term interest rates to likely shift slightly upwards." In this scenario, the bank believes Fed Chairman Powell may acknowledge the risks of stagflation while emphasizing a wait-and-see approach.

Silver Price Analysis: XAG / USD declines from a crucial EMA confluence below $22.00

Alina Haynes

Mar 16, 2023 13:51

As it consolidates the previous day's gains and extends a retracement from a five-week high, the silver price (XAG/USD) retests its intraday low near $21.70 early Thursday. In doing so, the precious metal represents the fourth consecutive day that it has failed to cross the convergence of the principal Exponential Moving Averages (EMAs).

 

In spite of this, the 50-EMA joins the 100-EMA and 200-EMA in highlighting the $21.80-$90 region as a difficult nut to break for Silver buyers.

 

Nonetheless, bullish MACD signals and an upward-sloping trend line from early September 2022 limit the immediate downside of the XAG / USD around $20.00.

 

Prior to that, the previous weekly highs of approximately $21.30 and $20.00 could entice the Silver bears.

 

In the event that the Silver price remains adverse beyond $20.00, a decline to the November 2022 low near $18.80 cannot be ruled out.

 

On the other hand, a daily close above $21.90 appears required for the XAG / USD investors to regain control.

 

Even so, the $22.00 threshold and January's low near $22.75 could present a challenge to Silver purchasers before they gain control.

 

Overall, the Silver price does not enter the buyer's radar until it surpasses $21.90. However, the negative appears to be limited as well.


Suggestion