Silver falls more than 2% ahead of the Fed decision, pressured by a 0.5% gold decline, while USDIDX tries to stabilize, gaining 0.12%. Investors expect that FOMC will cut interest rates by at least 25 bps today at 6 PM GMT, which is the most posisble scenario given the weakening US labor market.
However, the Fed US inflation projections remain uncertain as key inflation benchmarks signal rising price pressure in some sectors and 'sticky' inflation across the services. We can assume that the biggest risk for precious metals may be Fed 'hawkish' inflation projections.
SILVER (D1 interval)
Source: xStation5
Market Wrap: The Rotation Continues; Capital Is Flowing Out of Tech Companies!
Oil Price Erases Geopolitical Premium Faster Than After the Conflict with Russia. Is This the End or the Beginning of the Declines?
Chart of the Day: Is USDJPY in a stable trend or at a turning point? 💡
Economic Calendar: Will Today's NFP Data Send Wall Street Plummeting❓
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
