In Tuesday’s session, the XAG/USD struggled to gather momentum as the USD traded strong against its rivals after the release of strong S&P Global PMIs
XAG/USD trades flat, around $22.90, after peaking at a high around $23.15. US Manufacturing and Services PMIs lived up to expectations, while the European figures disappointed. Rising US Treasury yields favoured the downward movements. Hawkish bets on the Fed are still low. In Tuesday’s session, the XAG/USD struggled to gather momentumas the USD traded strong against its rivals after the release of strong S&P Global PMIs.
20, fueled by rising US yields. However, hawkish bets on the Federal Reserve remain low, which could limit the upside potential for the green currency. Additional catalysts includekey data to be released this week, consisting of Personal Consumption Expenditures figures on Friday, which is expected to have decelerated in September and with the Core PCE Price, the Fed’s preferred gauge of inflation, expected to come in at 3.7% YoY from the previous 3.9%.
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