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According to the Wall Street Journal: Ford Motor (FN) further cuts 1,000 jobs in Germany due to continued weak demand for electric vehicles.The European Parliaments head of metals will visit Kyiv, MEPs said.September 17th news: On September 17th local time, Krasnodar Airport in southern Russia received the first flight since its suspension of operations. This is also the first time the airport has resumed formal operations since its closure since the outbreak of the Russia-Ukraine conflict in February 2022.The number of rate cuts this year is expected to increase. 1. JPMorgan Chase: The updated dot plot indicates room for three rate cuts this year, one more than the June dot plot. 2. Deutsche Bank: The updated dot plot median may indicate a total of 75 basis points of rate cuts in 2025, 25 basis points more than the June forecast. 3. Barclays: The dot plot indicates three rate cuts this year, one each in 2026 and 2027, while the median long-term rate forecast remains unchanged at 3.0%. 4. Bank of Montreal: The median rate forecast for the end of 2025 is expected to be lowered to reflect the possibility of 25 basis point cuts at both the October and December meetings. The dot plot remains unchanged from June. 1. Pepperstone: The Federal Reserve is likely to disappoint market expectations. The dot plot median is likely to remain unchanged, still indicating only a cumulative rate cut of 50 basis points this year. 2. UBS: The dot plot will show two rate cuts this year, while the market expects closer to three. Participants economic outlook forecasts will also be in focus. 3. Bank of America: With macroeconomic forecasts largely unchanged, the median Fed rate forecast for 2025 will continue to indicate a 50 basis point cut, despite a downward shift in the overall dot plot. 4. Goldman Sachs: We expect the updated dot plot to show two rate cuts this year, to 3.875%. While the Fed may currently be planning three consecutive rate cuts this year, it may decide that forcing this into the dot plot is unnecessary. 5. Morgan Stanley: We expect the median dot plot to still show two rate cuts this year, but actual economic data may push the Fed to continue cutting rates throughout the rest of the year, extending this round of cuts into January. Other Views: 1. Citigroup: The updated dot plot is likely to indicate two to three rate cuts this year, and the median rate forecast for 2026 may also be revised downward.The UKs core CPI monthly rate in August was 0.3%, in line with expectations and the previous value of 0.2%.

Silver Price Analysis: XAG/USD returns above mid-19.00s; bulls flirt with 100-day Simple Moving Average

Alina Haynes

Oct 26, 2022 15:25

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Silver rises on Tuesday's rebound from the 200-hour simple moving average support and adds follow-through momentum for the second consecutive day on Wednesday. The upward move takes the precious metal back over the mid-$19.00 range during the early European session, bringing it closer to Monday's nearly two-week high.

 

The XAG/USD is currently flirting with the 100-day simple moving average (SMA), which, if decisively broken, would open the way for a near-term advance. In the meantime, oscillators on hourly charts remain bullish and have only begun to move into the positive zone on the daily chart. This, in turn, increases the likelihood of a future breach of the aforementioned barrier.

 

The XAG/USD pair might then attempt to exceed the $20.00 psychological level and climb toward the next significant barrier near $20.50. Bulls might then attempt to retake the $21.00 round-number level. This corresponds to the 200-day exponential moving average, above which the momentum might finally drive spot prices back to the monthly swing high, around $21.25.

 

On the other hand, the $19.20 region appears to protect the immediate downside ahead of the $19.00 level and the 200-hour simple moving average, which is currently in the $18.80 zone. A convincing breach below could prompt some technical selling and make the XAG/USD susceptible to accelerate the decline towards the $18.30-$18.25 intermediate support en route to the next crucial level near $18.00.

 

Failure to defend the latter will nullify any near-term bullish bias and return the bias to favor bearish traders. The continuing decline has the potential to bring the XAG/USD pair closer to its September low of $17.55 for the year. The decline might extend to the next significant support near the $17.00 round-number mark.

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