<Fundamental>
Despite the risk-on mood, silver prices are holding their uptrend. Overall risk-appetite mood is widespread in the market as expectations for a September Fed rate cut surge. Reports that President Trump may appoint a dovish candidate as the next Fed chair have bolstered the risk-appetite sentiment, alongside Treasury Secretary Besant’s remarks that a 50bp cut at the September FOMC is highly likely. If today’s PPI comes in below market consensus, it could further strengthen the case for a Fed rate cut and add to the inflows to the risky assets.
<Technical>
XAGUSD continues to trend higher within its ascending channel, holding above EMA21 and signaling the potential extension of its bullish structure. If XAGUSD remains within the channel, the price may gain upside traction toward the 39.50 high. Conversely, if XAGUSD breaks below EMA21 and the channel’s lower bound, the price could retreat toward 37.00.
Despite the risk-on mood, silver prices are holding their uptrend. Overall risk-appetite mood is widespread in the market as expectations for a September Fed rate cut surge. Reports that President Trump may appoint a dovish candidate as the next Fed chair have bolstered the risk-appetite sentiment, alongside Treasury Secretary Besant’s remarks that a 50bp cut at the September FOMC is highly likely. If today’s PPI comes in below market consensus, it could further strengthen the case for a Fed rate cut and add to the inflows to the risky assets.
<Technical>
XAGUSD continues to trend higher within its ascending channel, holding above EMA21 and signaling the potential extension of its bullish structure. If XAGUSD remains within the channel, the price may gain upside traction toward the 39.50 high. Conversely, if XAGUSD breaks below EMA21 and the channel’s lower bound, the price could retreat toward 37.00.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.