Silver rises as dollar keeps falling off 2-year high

2019-03-15 09:24:35 GMT (
Silver rises as dollar keeps falling off 2-year high

Silver futures rose during the Asian session, while the US dollar index fell, for fifth session in seven from its highest session since June 21, 2017, According to the inverse relationship between them, on the threshold of decisions and directions of the Bank of Japan (BOJ) in addition to the developments and economic data expected by the US economy, the largest economy in the world.


As of 05:25 GMT, Silver futures (due 15 May) rose with a rate of 0.53% to be traded at $15.26 over the opening at $15.19 amid the fall in the USD indicator at a rate of 0.04% to the levels of 96.68 over the opening at 96.72.


We have followed the monetary policy makers at the Bank of Japan (BOJ) to keep interest rates at 0.10%, which was expected by market analysts, as the Bank of Japan's monetary policy statement reflected the Japanese central bank's more flexible monetary policy, And attention is now being drawn to what will result from a press conference by Bank of Japan Governor, Haruhiko Kuroda, in Tokyo.


On the other hand, investors are looking ahead to the US economy to release the NYSE Index, which may extend to 10.1 vs. 8.8 in February before we see the world's largest industrial producer reading Industrial Production Index Up 0.4% from a decline of 0.6% in January. The Energy Use Index showed an accelerated growth to 78.5% versus 78.2%.


Leading to the first reading of the University of Michigan consumer confidence index, which may reflect a widening to 95.5 versus 93.8 in February with the release of consumer expectations for inflation for one year to come and five years ahead, in conjunction with the publication of a statistical employment opportunities and job rotation that may reflect a decrease to 7.27 million versus 7.34 million last December.


Yesterday, some reports referred to the postponement of the upcoming summit between the US President, Donald Trump, and his Chinese counterpart, Xi Jinping, to next April, in contrast to the initial report of the summit later this month, which in one way or another has revived concerns about existing trade tensions Between Washington and Beijing despite the recent efforts from both parties to resolve their trade disputes and reach a trade agreement.

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