{"id":155446,"date":"2023-09-14T02:43:38","date_gmt":"2023-09-13T21:13:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=155446"},"modified":"2023-09-14T02:43:38","modified_gmt":"2023-09-13T21:13:38","slug":"xag-usd-declines-after-hot-inflation-reading-of-the-us-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xag-usd-declines-after-hot-inflation-reading-of-the-us-crypto-news\/","title":{"rendered":"XAG\/USD declines after hot inflation reading of the US &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>XAG\/USD declined by 0.90% to the $22.80 area.<\/strong><\/li>\n<li><strong>Headline CPI from the US from August rose to 3.7% YoY, beating expectations.<\/strong><\/li>\n<li><strong>US yields retreated but remain uncomfortably high for precious metals.<\/strong><\/li>\n<\/ul>\n<p>In Wednesday\u2019s session, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/xagusd\">Silver<\/a> prices retreated and failed to consolidate above $23.00, falling to the $22.80 area. After fresh inflation figures from the US, the Greenback is holding its foot trading strong against its rivals while US Treasury yields are consolidating after initially spiking to a two-week high.<\/p>\n<p>The US Bureau of Labour Statistics (BLS) revealed that the Consumer Price Index (CPI) rose to 3.7%\u00a0 YoY, up from 3.2% in July and beating the expected 3.6%. On the other hand, the Core measure decelerated to 4.3% from its previous reading of 4.7%, as markets expected.<\/p>\n<p>In the meantime, the US 2,5 and 10-year bond\u00a0yields saw a volatile action during the session, spiking\u00a0after the release of the inflation figures and declining, seeing daily decreases of more than 0.50%. However, they still remain high, indicating that investors are still confident that the Federal Reserve (Fed) will hike one more time in 2023, and the CME FedWatch tool suggests that market swaps are discounting nearly 40% odds of a hike in November or December. In that sense, as yields remain high and hawkish bets on the Fed steady, the XAG\/USD\u2019s bulls will have a hard time as their upside potential will be limited.<\/p>\n<p>On Thursday, the BLS will report Producer Price Index (PPI) figures from August, providing additional insights to investors to place their bets on the next <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Fed<\/a> meetings.<\/p>\n<h2 class=\"fxs_headline_medium\">XAG\/USD Levels to watch\u00a0<\/h2>\n<p>\u00a0The technical <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\">outlook<\/a> for the XAG\/USD indicates an oversold condition in the short term, suggesting a potential technical rebound in the near future. The Relative Strength Index (RSI) exhibits a negative slope below the 50 thresholds, while the Moving Average Convergence (MACD) histogram, displays larger red bars. Also, the pair is below the 20,100 and 200-day Simple Moving Averages (SMAs), highlighting the continued dominance of bears on the broader scale. To add to that, the moving averages seem to be converging towards the $23.50 and are building a strong resistance at that area.<\/p>\n<p>\u00a0Support levels:$22.60,\u00a0$22.40,\u00a0$22.00.\u00a0<\/p>\n<p>\u00a0Resistance levels: $23.00,\u00a0$23.50 (200-day SMA),\u00a0$23.60\u00a0(20-day SMA).<\/p>\n<h2 class=\"fxs_headline_medium\">XAG\/USD Daily Chart<\/h2>\n<h2 class=\"fxs_headline_medium\"><\/h2>\n<h2 class=\"fxs_headline_medium\">\u00a0<\/h2>\n<h2 class=\"fxs_headline_medium\">\u00a0<\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: XAG\/USD declined by 0.90% to the $22.80 area. Headline CPI from the US from August rose to 3.7% YoY, beating expectations. US yields retreated but remain uncomfortably high for precious metals. In Wednesday\u2019s session, Silver prices retreated and failed to consolidate above $23.00, falling to the $22.80 area. After fresh inflation figures from the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":19990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,350,252,247,253,249,671,256,254,672],"class_list":["post-155446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-metals","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-silver","tag-wallet","tag-wordpress","tag-xagusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=155446"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155446\/revisions"}],"predecessor-version":[{"id":155448,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155446\/revisions\/155448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/19990"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=155446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=155446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=155446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}