Silver Price Analysis: XAG/USD tests $22.00 but dived below the 200-DMA after US data – by christianborjon Silver XAGUSD Metals
CB) surprised the markets with a 50 bps lift, amidst a turmoil period in the financial markets, with Credit Suisse at the brisk of defaulting. At the time of writing, the XAG/USD exchanges hands at $21.54.Sentiment remains fragile, with most global equities dropping except the Nasdaq 100.
raised rates by 50 basis points and stated that inflation remains too high. However, the statement did not provide forward guidance regarding future monetary policy decisions.revealed that unemployment claims, reported by the US Bureau of Labor Statistics , eased below the 200K mark, a sign of the labor market tightness. Initial Jobless Claims rose by 192K vs. 205K, estimated by market participants.
The greenback remains under pressure, as shown by the US Dollar Index , down 0.26% at 104.478. US Treasury bond yields are recovering some ground, with 2s up 13 bps at 4.019%. On the contrary, the 10-year benchmark note rate is 3.432%, down two bps, a tailwind for XAG/USD.The US economic calendar will feature Industrial Production, Capacity Utilization, and the University of Michigan Consumer sentiment.The XAG/USD reached for two straight days the $22.
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