EUR/USD 1.03741
-0.225%
Gold 2854.65
-0.782%
Oil 69.851
-0.116%
USD/JPY 150.504
0.467%
GBP/USD 1.25801
-0.156%
GBP/JPY 189.327
0.312%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Philippine Institute of Volcanology and Seismology, a 5.3-magnitude earthquake occurred in the eastern waters of Davao Oriental Province in the southern Philippines at around 21:59 on March 1, with a focal depth of 10 kilometers. The earthquake was felt in many nearby areas. The earthquake is not expected to cause damage, but there will be aftershocks.On March 1, the official website of Ant Group was updated to show that Han Xinyi, the former president of Ant Group, officially took over as CEO of Ant Group.On March 1, data from FlightAware, a flight tracking website, showed that a Ukrainian government plane had taken off from a military base near Washington and flew to the UK. According to Ukrainian media reports, the plane was used by Ukrainian President Zelensky. It is reported that British Prime Minister Starmer proposed to hold a meeting in London on March 2 to discuss how to deal with the "breakdown" of the meeting between Trump and Zelensky on the 28th. More than a dozen European countries and EU leaders, as well as Zelensky, will attend the meeting.The National Highway Traffic Safety Administration (NHTSA) said Volkswagen of America is recalling 60,490 vehicles.March 1, local time on February 28, French President Emmanuel Macron said during his visit to Portugal that there was little hope of making progress on the tariff issue after meeting with US President Trump. Macron also said that if the United States decides to impose a 25% tariff on Europe, Europe will respond "equally". Macron said that although the imposition of reciprocal tariffs will lead to inflation and no country will benefit from it, the EU must protect itself.

Silver Price Prediction: XAG/USD falls as the dollar recovers some of its losses

Daniel Rogers

Oct 13, 2022 14:35

171.png 

 

Despite US Treasury bond yields retreating from weekly highs as a result of FOMC minutes indicating Fed officials' reluctance to declare triumph over inflation, the silver price extended its losing streak to four consecutive days.

 

Earlier in the European session, the XAG/USD reached a session high of $19.30 before falling to a session low of $18.84 before recovering some ground. XAG/USD is trading at $19.05 at the time of writing, 0.77% below its opening price.

 

US stocks ended Wednesday's trading session with slight losses. The atmosphere deteriorated as a result of the BoE's reiteration that the emergency bond-buying program will finish on October 14, and the minutes from the September FOMC meeting, which weighed on risk-perceived assets.

 

According to the FOMC's minutes, policymakers "stressed that the cost of taking insufficient action to reduce inflation likely outweighed the cost of taking excessive action." Officials emphasized that it will be necessary to "calibrate the pace of future rate hikes" in order to mitigate the impact on the US economy.

 

Several Fed members stressed the need to maintain a restrictive policy for as long as necessary, reaffirming the necessity to raise interest rates for an extended period.

 

In addition, traders are preparing for Thursday's US inflation report for September. Data released on Wednesday indicated that the Producer Price Index (PPI) increased by 8.5% year-over-year, while the so-called core PPI increased by 7.2%, which was less than the prior reading and projections.

 

According to the CME FedWatch Tool, the probability of a 75 basis point rate hike are 82% given the current environment. Consequently, the white metal will likely continue under pressure, preventing silver buyers from placing new wagers as US Treasury yields climb.


Suggestion