News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Japanese Finance Minister Aso says overall the financial system is stable - BBG
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/3:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here: https://t.co/wi1qabrtHJ https://t.co/jNyYJ2yATp
  • South Korean President Moon Jae-in: - Revised GDP shows swift economic recovery underway - Retail investors have supported the South Korean stocks markets - BBG
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/mAKl7spDmH
  • Wall Street Futures Update: Dow Jones (+0.513%) S&P 500 (+0.628%) Nasdaq 100 (+0.755%) [delayed] -BBG
  • Net exports were the biggest drag on Australia's GDP in over 9 years in Q3, according to data released today. #RBA on tap today, full Q3 #GDP report due Wednesday
  • 🇦🇺 Building Permits MoM Prel (OCT) Actual: 3.8% Expected: -3% Previous: 16.2% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇦🇺 Building Permits MoM Prel (OCT) Actual: 3.8% Expected: -3% Previous: 15.4% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇰🇷 Markit Manufacturing PMI (NOV) Actual: 52.9 Previous: 51.2 https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇦🇺 Building Permits MoM Prel (OCT) Actual: 3.8 Expected: -3% Previous: 15.4% https://www.dailyfx.com/economic-calendar#2020-12-01
Silver Prices Ease Following Stable Stock Markets

Silver Prices Ease Following Stable Stock Markets

2016-04-06 11:56:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • Silver prices soften today following lower demands for safe haven assets after stock markets stabilized.
  • The overall trend is bearish below the March 31 swing high of $15.56.
  • The Fed will publish its latest FOMC meeting minutes later today, which may attract attention from silver traders given silver’s sensitivity to Fed rate hikes.

Silver prices (FXCM: XAG/USD) have eased back from yesterday’s high of $15.23 as the slide to global stock markets abated today. The stable stock markets is lowering the demand for safe haven assets such as Gold and Silver.

Silver’s technical trend is downwards below the March 31 swing high of $15.56, as the March 31 level is lower than the prior swing high of $16.03 (formed on March 22). Support levels are currently at last week’s low of $14.81 followed by the March 1 low of $14.75 and February 29 low of $14.64.

This evening, silver price volatility may pick up again as the Fed will publish the minutes of its latest rate meeting. The price of silver is sensitive to rate hikes as it tends to strengthen the USD, which usually lowers the price of silver. Traders will therefore scrutinize the minutes for signs of the Fed moving either closer or further away from raising rates.

Our forecasts for Q2 2016 are now live on the site. Download them for free.

Silver Price | FXCM: XAG/USD

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES