MCX Silver News : 15.09.2016
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Silver trading range for the day is 45188-46044.
Silver prices seen supported as the market waited for clues on the timing of interest rate
rises in the United States.
Boston Fed President Eric Rosengren who said that low interest rates are increasing the
chance of overheating the U.S. economy.
The Bank of England is expected to say that it will still probably cut interest rates to a
fraction above zero later this year
Silver on MCX settled up 0.23% at 45605 as the market waited for clues on the timing of interest rate rises in the United States. Federal Reserve Board Governor Lael Brainard argued against prematurely removing monetary policy accommodation in the United States, remarks that are likely to significantly dampen expectations for a rate hike next week stoked by Boston Fed President Eric Rosengren who said that low interest rates are increasing the chance of overheating the U.S. economy. Atlanta Federal Reserve Bank President Dennis Lockhart said the economic data of late justifies a "lively" conversation about whether to raise rates at this meeting. Markets are
pricing in just a 15 percent chance that U.S. interest rates will be hiked this month, according to CME FedWatch. Chinese M2 money supply for August at 11.4 percent beat the expected 10.5 percent while new loans at 949 billion yuan were significantly better than the forecast of 725 billion yuan. The Commerce Department will publish data on August retail sales on Thursday as investors continue to speculate over the timing of future U.S. interest rate increases. China's factory output and retail sales grew faster than expected in August as a strong housing market and a government infrastructure spending spree underpinned growth in the world's secondlargest
economy. Precious metal prices have been in thrall to contrasting comments from Fed officials before the policy meeting. Boston Fed President Eric Rosengren said Friday that the economy may overheat if the bank waits too long. Technically market is under short covering as market has witnessed drop in open interest by -2.97% to settled at 8928, now Silver is getting support at 45396 and below same could see a test of 45188 level, And resistance is now likely to be seen at 45824, a move above could see prices testing 46044.
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Silver prices seen supported as the market waited for clues on the timing of interest rate
rises in the United States.
Boston Fed President Eric Rosengren who said that low interest rates are increasing the
chance of overheating the U.S. economy.
The Bank of England is expected to say that it will still probably cut interest rates to a
fraction above zero later this year
Silver on MCX settled up 0.23% at 45605 as the market waited for clues on the timing of interest rate rises in the United States. Federal Reserve Board Governor Lael Brainard argued against prematurely removing monetary policy accommodation in the United States, remarks that are likely to significantly dampen expectations for a rate hike next week stoked by Boston Fed President Eric Rosengren who said that low interest rates are increasing the chance of overheating the U.S. economy. Atlanta Federal Reserve Bank President Dennis Lockhart said the economic data of late justifies a "lively" conversation about whether to raise rates at this meeting. Markets are
pricing in just a 15 percent chance that U.S. interest rates will be hiked this month, according to CME FedWatch. Chinese M2 money supply for August at 11.4 percent beat the expected 10.5 percent while new loans at 949 billion yuan were significantly better than the forecast of 725 billion yuan. The Commerce Department will publish data on August retail sales on Thursday as investors continue to speculate over the timing of future U.S. interest rate increases. China's factory output and retail sales grew faster than expected in August as a strong housing market and a government infrastructure spending spree underpinned growth in the world's secondlargest
economy. Precious metal prices have been in thrall to contrasting comments from Fed officials before the policy meeting. Boston Fed President Eric Rosengren said Friday that the economy may overheat if the bank waits too long. Technically market is under short covering as market has witnessed drop in open interest by -2.97% to settled at 8928, now Silver is getting support at 45396 and below same could see a test of 45188 level, And resistance is now likely to be seen at 45824, a move above could see prices testing 46044.
