{"id":246391,"date":"2024-02-13T11:59:12","date_gmt":"2024-02-13T06:29:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=246391"},"modified":"2024-02-13T11:59:12","modified_gmt":"2024-02-13T06:29:12","slug":"xag-usd-consolidates-around-22-70-ahead-of-us-inflation-data-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xag-usd-consolidates-around-22-70-ahead-of-us-inflation-data-crypto-news\/","title":{"rendered":"XAG\/USD consolidates around $22.70 ahead of US Inflation data &#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>Silver price trades lackluster around $22.70 as the focus remains on US inflation data.<\/strong><\/li>\n<li><strong>Soft inflation data would uplift hopes of early rate cuts by the Fed.<\/strong><\/li>\n<li><strong>Silver price is consistently facing pressure from a downward-sloping trendline placed from $24.60.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/xagusd\" data-fxs-autoanchor=\"\">Silver<\/a> price (XAG\/USD) trades back and forth in a narrow range around $22.70 in the late Asian session on Tuesday. The white metal struggles for a direction as investors await the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\" data-fxs-autoanchor=\"\">United States<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/us-cpi-data-preview-inflation-is-set-to-fall-in-january-but-by-how-much-202402130300\" data-fxs-autoanchor=\"\">Consumer Price Index<\/a> (CPI) data for January, which will be published at 13:30 GMT.<\/p>\n<p>S&amp;P500 futures remain on the backfoot in the Tokyo session, indicating a decline in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/sentiment\/risk-appetite\" data-fxs-autoanchor=\"\">risk appetite<\/a> of the market participants. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\" data-fxs-autoanchor=\"\">US Dollar<\/a> Index (DXY) remains positive but struggles to extend upside above the crucial resistance of 104.25. 10-year US Treasury yields rise to 4.18%.<\/p>\n<p>The US inflation data is expected to impact the outlook for interest rates. As per the CME Fedwatch tool, traders bet for a rate cut by 25 basis points (bps) in May. A significant decline in the inflation data would prompt expectations of an early rate cut by the Federal Reserve (Fed).<\/p>\n<p>In the last monetary policy statement, Fed Chair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Jerome Powell<\/a> ruled out expectations of a rate cut in March as the central bank is unconvinced about inflation declining towards the 2% target. Also, Fed policymakers have not favored aggressive rate cuts as they could increase price pressures again.<\/p>\n<h2 class=\"fxs_headline_medium\">Silver technical analysis<\/h2>\n<p>Silver price faces pressure while extending recovery above the downward-sloping trendline plotted from December 22 high at $24.60. The asset manages to sustain above the 50-period Exponential Moving Average (EMA) at $22.63, which indicates that the near-term outlook is bullish.<\/p>\n<p>The 14-period Relative Strength Index (RSI) aims to move above 60.00. A bullish momentum would get triggered if the RSI (14) manages to do so.<\/p>\n<h3 class=\"fxs_headline_medium\">Silver four-hour chart<\/h3>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XAG_USD_2024-02-13_11-37-08-638434015790178592.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Silver price trades lackluster around $22.70 as the focus remains on US inflation data. Soft inflation data would uplift hopes of early rate cuts by the Fed. Silver price is consistently facing pressure from a downward-sloping trendline placed from $24.60. Silver price (XAG\/USD) trades back and forth in a narrow range around $22.70 in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":20827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,366,255,388,250,252,247,253,249,671,524,256,254,672],"class_list":["post-246391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-fed","tag-gta","tag-inflation","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-silver","tag-supportresistance","tag-wallet","tag-wordpress","tag-xagusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246391","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=246391"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246391\/revisions"}],"predecessor-version":[{"id":246397,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246391\/revisions\/246397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/20827"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=246391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=246391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=246391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}