In Tuesday’s session, the Silver Spot price XAG/USD lost momentum and failed to conquer the 200-day Simple Moving Average. The main reason was that th
The benchmark US 10-year bond yield threatens multi-year highs.price XAG/USD lost momentum and failed to conquer the 200-day Simple Moving Average. The main reason was that the US Treasury yields, often seen as the opportunity cost of holding non-yielding metals, recovered as markets await Wednesday's Federal Reserve decision.
The 10-year bond yield reached 4.34% and trades near the crucial 4.36% threshold, which, in case of breaking it, would set a multi-year high since 2007. In addition, The 2-year yield stands at 5.08% with a 0.52% increase, while the 5-year yield is at 4.48%, up by 0.31%. For Wednesday's Federal Reserve decisions, despite markets anticipating a pause, a hawkish tone given by Chair Powell could boost US yields and apply further pressure on the grey metal. The US economy remains strong, mainly driven by the Services sector, while the US labour market is showing a mixed picture, and as the Fed want to see a cool down to mitigate inflation risks, it will likely leave the door open for one last hike.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: XAG/USD sticks to intraday gains above $23.00, lacks bullish convictionSilver attracts fresh buyers near the $23.00 mark on the first day of a new week and sticks to its modest intraday gains through the early part of the
Read more »
Silver Price Analysis: XAG/USD stabilizes above $23 ahead of Fed policySilver price (XAG/USD) shifts auction above the crucial resistance of $23.00 as the US Dollar comes under pressure ahead of the interest rate decision
Read more »
Silver Price Analysis: XAG/USD sits near two-week high, 200-day SMA holds the key for bullsSilver reverses modest intraday losses to the $23.15 area and climbs back closer to a nearly two-week high touched this Tuesday. The white metal now t
Read more »
GBP/USD Price Analysis: Hangs near multi-month low, seems vulnerable below 200-day SMAThe GBP/USD pair continues with its struggle to gain any meaningful traction and languishes near its lowest level since early June touched on Monday.
Read more »
EUR/USD Price Analysis: Outlook remains negative below the 200-day SMAEUR/USD trades in a volatile fashion and looks to consolidate a breakout of the 1.0700 hurdle on Tuesday. If the rebound gathers extra steam, the pair
Read more »
Gold Price Forecast: XAU/USD holds above the 20 and 200-day SMA, upside limitedOn Monday, the Gold spot price XAU/USD is holding above the 20 and 200-day Simple Moving Average (SMA) convergence at $1,922-1,923, rising to $1,930.
Read more »