SILVER PRICE ANALYSIS: XAG/USD THREATENS THE 200-DAY SMA AHEAD OF EVENTFUL WEEK

avatar
· Views 120



  • The XAG/USD gained ground rising towards the 200-day SMA seeing more than 2% daily gains
  • The 20-day SMA is about to cross below the 200-day SMA; further downside may be on the horizon. 
  • Rising US yields may limit the silver´s upside.

The XAG/USD rose near the 200-day Simple Moving Average (SMA) towards the $23.20 area, mainly driven by a softer USD. Investors await Thursday's annual Jackson Hole Symposium, which may cause volatility in bond markets and the Silver price dynamics. As for now, US yields are rising, limiting further Silver´s gains.

On Thursday, Jerome Powell from the Federal Reserve (Fed) will deliver a speech at the annual Jackson Hole Symposium, which will likely ramp up volatility in the USD and the US bond market price dynamics. As for now, the US economy is holding firm and inflation is seeing a mixed picture, so clues regarding forward guidance will set the pace for the US yield dynamics and affect the non-yielding Silver. 

According to the CME FedWatch tool, markets are confident that the Fed won’t hike in September, while the odds of a 25 basis point (bps) increase rise near 40% in November. However, those bets will likely change after Chair Powell’s speech on Thursday


免責事項:本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 0

  • tradingContest