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January 15th, some analysts pointed out that U.S. consumer prices rose faster in December, the latest sign that the Federal Reserves fight against inflation may have stalled. Data released on Wednesday showed that the CPI rose 0.4% from November and 2.9% from a year earlier. This was the largest monthly increase in overall prices since February, partly due to sharp increases in the prices of eggs and other food. Inflation has fallen sharply since mid-2022, however, recent progress has slowed or even stopped completely: by some measures, there will be little improvement in inflation in 2024. Sarah House, senior economist at Wells Fargo, said: "When you step back and look at the overall inflation situation, we havent actually made any progress. Although some progress has been made, the pace of progress is indeed disappointing."On January 15, eurozone government bond yields continued to fall due to US CPI data. Michael Brown, senior research strategist at Pepperstone, said in a report that the US CPI report in December painted a complex picture of price pressures in the US economy. The CPI data are not particularly helpful for the broader discussion. Instead, they help to reiterate that underlying price pressures remain relatively stubborn and the path back to the 2% inflation target will be relatively turbulent.Airbus CEO: Production of 75 single-aisle aircraft per month is a "prudent level" and will be maintained at that level in the coming years.On January 15, the core CPI was lower than expected, rising 0.2% month-on-month in December, compared with expectations of 0.3%. The core CPI monthly rate fell after rising 0.3% for four consecutive months, which is the direction the Fed wants to see. After last weeks strong December employment report, investors are more worried that economic momentum may prevent the Fed from further cutting interest rates throughout the year. Now, the Fed is generally inclined to at least further cut interest rates. Traders are now betting that the Fed has less than a one-fifth chance of not cutting interest rates at all in 2025, lower than the one-quarter before the CPI.On January 15th, local time on the 15th, Venezuelan Foreign Minister Hill announced on social media that the Venezuelan embassy in Oslo, Norway was invaded and damaged that day. He urged the Norwegian side to immediately find the person responsible for the incident.

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.