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On July 24, in response to rumors that "Mercedes-Benz may suspend CLA production in China," Mercedes-Benz stated, "The CLA model is still in production, and monthly sales are relatively stable. As is customary, different production lines will rotate for high-temperature breaks, and we will also take this opportunity to conduct equipment maintenance."JPMorgan Chase raised its price target for Thermo Fisher Scientific (TMO.N) to $690 from $600.JPMorgan Chase raised its price target for Nasdaq (NDAQ.O) from $112 to $114.On July 24th, three sources familiar with the matter revealed that the Bank of Japan (BOJ) is likely to maintain its warning about inflation exceeding its 2% target next week, but also hinted that these risks have not increased significantly compared to three months ago. The BOJ is expected to focus on the ongoing inflation risks from the Middle East conflict, strong global demand for artificial intelligence, and rising import costs due to a weaker yen in its quarterly outlook report to be released at its policy meeting next week. Meanwhile, the BOJ believes the likelihood of the worst-case scenario—a severe supply disruption triggering a price surge and forcing the central bank to raise interest rates rapidly—has decreased compared to three months ago. Furthermore, the statement made during its June rate hike that there is a risk of "potential consumer inflation deviating from and exceeding the 2% target" is expected to reappear. Sources said that with the risk of a short-term inflationary shock from oil prices easing, policymakers are now turning their attention to the extent to which businesses continue to pass on rising costs to households. This shift indicates that the BOJ is moving beyond the direct impact of the Middle East conflict and focusing on broader inflationary factors, including AI-related demand and a weaker yen, to assess the timing of the next rate hike.Iranian Foreign Minister: Once the government normalizes asset confiscation, no ones assets will be safe. The resulting chaos will not be peaceful or orderly.

Silver Price Forecast: Price Volatility as Treasury Yields Rise

Jun 07, 2022 14:43

The price of silver attempted to break out, but again encountered selling resistance. The decline in gold prices weighed on the broader precious metals market. The Fed's quiet period has begun in advance of the FOMC's mid-month meeting.

 

The benchmark rates continued to rise, with the 10-year yield ending over 3%.

 

Prior to the Fed FOMC meeting, there is a period known as the quiet period, during which members refrain from commenting on Fed policy.

 

Prior to their June 14-15 monetary policy meeting, Fed policymakers have entered a period of silence. Last week, yields continued to climb as a result of a robust employment report. The Fed Funds futures contract for the end of the year is currently pricing in rates of 2.70 percent, implying another 100 basis points of tightening over the next two meetings.

Technical Evaluation

The price of silver sought to climb higher but was unable to do so. Near the 10-day moving average of 21.99 is viewed as support. At the 50-day moving average of 23.18, there is observed to be resistance.

 

The 50-day moving average continues below the 200-day moving average, representing a headwind for XAG/USD and indicating negative trend. Silver will likely reach the level of 20.4.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The MACD histogram is moving in negative area, indicating a downward trend in price movement.

 

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