EUR/USD 1.11992
-0.287%
Gold 4068.04
-1.763%
Oil 99.223
1.879%
USD/JPY 157.278
-0.541%
GBP/USD 1.33726
-0.153%
GBP/JPY 210.326
-0.686%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 22nd, Meta Platforms (META.O) saw its credit risk metrics surge to a record high on Thursday, causing its bond prices to fall. This followed the companys plans to increase capital expenditures, reigniting market concerns that tech giants might issue more debt for artificial intelligence infrastructure in an already saturated market. According to data from ICE Data Services, as investor concerns intensified, the companys five-year credit default swap (CDS) price rose by as much as 8.9 basis points to approximately 119.3 basis points per year, the highest intraday level since the swap products inception. Meta stated that it will invest approximately $825 billion in various leases and contracts, much of which is related to AI computing power and infrastructure. In July, Meta reported that its future spending commitments totaled nearly $700 billion. In addition to the rise in credit default swap (CDS) prices, the companys bonds also weakened relative to U.S. Treasuries.Indian Prime Minister Narendra Modi received a phone call from Israeli Prime Minister Benjamin Netanyahu. Both sides reviewed the positive momentum in the continued development of bilateral relations and reaffirmed their commitment to further strengthening the bilateral partnership. They also exchanged views on the recent situation in West Asia, emphasizing the urgent need to restore regional peace and stability.eBay (EBAY.O) expects the layoffs to be largely completed by the end of the first quarter of 2027.eBay (EBAY.O) has confirmed that it will lay off approximately 9% of its workforce, and the company expects restructuring costs to be between $130 million and $150 million.Russias central banks gold and foreign exchange reserves totaled $723.2 billion for the week ending October 16, compared with $723.5 billion in the previous week.

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