EUR/USD 1.09216
-0.189%
Gold 3029.07
-0.239%
Oil 60.040
-3.891%
USD/JPY 146.712
-0.077%
GBP/USD 1.28523
-0.156%
GBP/JPY 188.564
-0.233%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japanese Prime Minister Shigeru Ishiba: It is too early to comment on potential tax cuts today and we will discuss the most effective way to deal with rising living costs.On April 7, Goldman Sachs released a report titled "Countdown to Recession", which lowered the outlook for US economic growth and raised the probability of a recession, warning that the combination of factors such as tightening financial conditions, intensified global rebound, and a surge in policy uncertainty could have a more severe impact on the economy than previously expected. The bank lowered its forecast for US GDP growth in the fourth quarter of 2025 to 0.5%, and raised the probability of a 12-month recession from 35% to 45%. The downgrade reflects "sharp tightening of financial conditions", as well as increased foreign consumer boycotts and policy unpredictability, which are expected to suppress capital expenditures more severely than initially predicted. "This baseline forecast still assumes that the effective tariff rate in the United States will increase by 15 percentage points," the economists wrote. "For this assumption to hold, a significant reduction in the tariffs currently scheduled to take effect on April 9 would be required." Goldman Sachs estimates that if most tariffs are implemented as planned, once additional industry-specific measures are included, the effective tariff rate could rise by 20 percentage points, even taking into account limited country-specific exemptions."On April 7, Goldman Sachs lowered its forecast for US GDP growth in the fourth quarter of 2025 to 0.5%, and raised the probability of a 12-month recession from 35% to 45%, due to a sharp tightening of the financial environment, foreign consumer boycotts, and a continued surge in policy uncertainty, which may curb capital expenditures to a greater extent than we previously assumed.On April 7, Bruce Kasman, head of economics at JPMorgan Chase, said: "The scale and disruptive impact of US trade policies, if sustained, will be enough to plunge the still healthy US and global economic expansion into recession." He believes the risk of a recession is 60%. He added: "We still expect the Fed to ease monetary policy for the first time in June. However, we now believe that the committee will cut interest rates at every meeting before January (next year), lowering the upper limit of the federal funds rate target range to 3.0%."Japanese Chief Cabinet Secretary Yoshimasa Hayashi: A ministerial-level group on tariffs will be set up.

Forecast for Silver Price: XAG/USD is rising quickly and is approaching the $20.00 mark

Alina Haynes

Sep 15, 2022 11:43

 157.png

 

Silver price recovers around the 50-day exponential moving average and advances towards a daily high of $19.69 on Wednesday after the US Labor Department reported that August PPI was in line with predictions of diminishing inflationary pressures on the producer side. Therefore, the XAG/USD is trading at $19.61, 1.86% higher than its initial price.

 

Before Wall Street opened, the Bureau of Labor Statistics (BLS) of the United States reported that the Producer Price Index (PPI) for August decreased by 0.1%, in line with expectations, while the year-over-year figure fell to 8.7%, less than the 9.8% reported in July. Meanwhile, the so-called core PPI, which excludes volatile goods, increased by 0.4% month-over-month and 7.3% year.

 

In the meantime, the US Dollar Index, a measure of the dollar's value against a basket of six currencies, ended Wednesday's session down 0.15 percent, at 109.648, weighed down by US Treasury yields, particularly the 10-year benchmark note rate, which remained unchanged throughout the day at approximately 3.404%.

 

The US Dollar Index reflects the aforementioned by declining by 0.09% and falling below the 110.000 barrier. Similarly, the US 10-year benchmark note rate exhibits signs of weariness, remaining flat at approximately 3.414%.

 

The fact that US 10-year TIPS yields, a proxy for actual yields, rose by only one basis point to 0.939% was a further factor supporting the white metal price.

 

On Thursday, the US economic calendar will contain jobless claims, retail sales, and the New York and Philadelphia Fed Manufacturing Indices, which will serve as a precursor to the ISM report in October.

 

The daily XAG/USD chart depicts the white metal as neutral to bearishly biased. Nonetheless, if silver buyers recapture the $20,000 threshold, this might pave the way for a test of a four-month-old downslope trendline near $20.20 prior to reaching the 100-day EMA at $20.39. A breach of the latter will reveal the cycle high from August 15 at $20.87, ahead of the psychological milestone of $21.00.


Suggestion