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On August 27, Federal Reserve Governor Lisa Cook again denied repeated, unsubstantiated allegations of mortgage fraud made by President Trump. Trump is considering restarting efforts to remove her from her post, a move that could trigger another fierce legal battle over the Feds independence. In a letter to the White House on Wednesday, Cooks lawyers called the allegations "baseless and untrue." The letter stated, "Governor Cook has never committed mortgage fraud or any willful misconduct, and there is no legal justification for removing her from the Federal Reserve Board."August 27th - National Australia Bank (NAB) expects the Reserve Bank of Australia (RBA) to raise interest rates in September, as Julys consumer price increases in Australia exceeded expectations, primarily due to soaring fuel costs. NAB economists stated, "The July CPI data shows an inflation situation more severe than the RBA anticipated in early August, and the RBA has repeatedly hinted in recent weeks that the Monetary Policy Committee will act if upside risks to inflation materialize." The bank currently expects the RBA to raise the cash rate by 25 basis points to 4.6% in September.August 27th - According to Iranian sources, Iranian Army spokesman Mohammad Akraminia stated on the 26th that all of the Iranian militarys weapon systems, including those previously damaged, have been rebuilt. Iran has also imported new weapon systems from abroad. Akraminia stated that Iran has taken serious steps in rebuilding and redeploying its damaged weapon systems, which have enhanced Irans combat capabilities.National Australia Bank: The Reserve Bank of Australia is currently expected to raise interest rates in September.Lawyers for Federal Reserve Governor Tim Cook stated that the White House letter was based on unexamined and unproven allegations of criminal misconduct. Cook has never been involved in mortgage fraud or any willful misconduct. There is no legitimate reason to remove Cook from the Federal Reserve Board.

Silver Price Analysis: XAG / USD reverses from a six-week-old resistance level toward $22.00

Daniel Rogers

Mar 20, 2023 13:19

 截屏2022-06-06 下午5.54.42.png

 

As the Fed week gets underway, the silver price (XAG / USD) accepts offers to renew intraday lows near $22.40, reversing from the greatest levels since early February.

 

In doing so, the brilliant metal reverses from the horizontal area consisting of multiple peaks marked since February 3 at approximately $22.60.

 

Notably, the overbought conditions of the RSI (14) aid the XAG/USD in trimming recent gains near the multi-day high.

 

However, optimistic Silver purchasers are buoyed by bullish MACD signals and the metal's sustained trading above critical support levels.

 

A one-week-old ascending trend line near $21.90 and the 200-bar Exponential Moving Average (EMA) near $21.65 provide immediate crucial support.

 

The early-month swing high near $21.30 and the $21.00 round figure can act as additional downside filters for XAG/USD bears before targeting the monthly low of $19.90.

 

In the meantime, the Silver price rise above the aforementioned resistance line near $22.60 requires confirmation from the 61.8% Fibonacci retracement level of the metal's February-March decline, which is located close to $22.85.

 

After that, a rise to the Year-To-Date (YTD) high around $24.65 cannot be ruled out.

 

Silver prices are expected to decline overall, but the bears have a long way to go before regaining control.


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