SILVER RISES 0.19% ON GLOBAL BANKING CONCERNS – 28 APRIL 2023

 

SILVER SOARS AS GLOBAL BANKING CONCERNS DAMPEN RISK SENTIMENT.

Silver experienced a modest increase of 0.19% in yesterday’s trading, closing at 73959, primarily driven by risk sentiment concerns surrounding the global banking sector. Investors recognized that despite lower-than-expected GDP data for Q1, the Federal Reserve is still expected to raise interest rates in the upcoming week. While business and residential investment slowed down, consumer spending remained resilient, and the personal consumption expenditures price index indicated higher inflation than estimated. Furthermore, the demand for silver was also boosted by a report highlighting the record-breaking contribution of wind and solar energy to electricity generation in 2022.



GLOBAL BANKING SECTOR CONCERNS WEIGH ON RISK SENTIMENT:

The global banking sector faced apprehension as Republic Bank’s rescue plan hinted at a significant divestment, leading to dampened risk sentiment among investors. A Bloomberg report unveiled the bank’s intentions, triggering concerns about the health of the banking industry. This development prompted investors to seek safe-haven assets, including precious metals like silver. The uncertainty surrounding the banking sector contributed to the positive performance of silver in yesterday’s trading session.

ANTICIPATION OF FED RATE HIKE DESPITE SLOWER Q1 GROWTH:

Comments

Post a Comment

Popular posts from this blog

China’s Oil Demand Slump Leads to 2% Drop in Global Oil Prices

Image
  Oil drops 2% as concerns over China’s demand wipe out last week’s gains Oil prices dropped by approximately 2% on Monday, erasing last week’s gains, as China’s oil imports fell for the fifth consecutive month, fueling concerns over fuel demand. This decline was further driven by OPEC’s decision to lower its global oil demand growth forecasts for 2024 and 2025. China’s stimulus measures failed to boost investor confidence, while markets remained tense over the potential for Israeli strikes on Iranian oil infrastructure. On Monday, OPEC revised its forecast for global oil demand growth in 2024, marking its third consecutive downward adjustment for the upcoming year. The primary contributor to this downgrade was China, the world’s largest importer of crude oil, as OPEC reduced its growth estimate for the country from 650,000 barrels per day (bpd) to 580,000 bpd. Data indicated that China’s crude oil imports for the first nine months of this year fell nearly 3% compared to the previ...
Read more

Top 10 Best Brokers for Forex Trading: Why Capital Street FX Stands Out

Image
  Top 10 Best Brokers for Forex Trading In the ever-evolving world of forex trading, finding the right broker is crucial. The right broker not only facilitates your trades but also provides the tools, insights, and support needed to succeed in this fast-paced market. Among the many brokers available today,  Capital Street FX  (also known as  CSFX ) emerges as a top choice for traders globally. In this article, we’ll explore the  Top 10 best brokers for forex trading , with a particular focus on why  Capital Street FX  is better than other forex brokers, including its lucrative  900% deposit bonus . Capital Street FX: Leading the Forex Trading Market Capital Street FX  is not just another name in the crowded forex market. With its roots deeply embedded in offering superior trading conditions,  Capital Street FX  has become synonymous with reliability, innovation, and customer satisfaction. Let’s delve into the factors that make ...
Read more

5 Technical Indicators Every Trader Should Know | Capital Street FX

Image
  Introduction Success in trading often hinges on the ability to analyze market trends and make data-driven decisions. Technical indicators play a pivotal role in this process, offering traders a reliable way to interpret price movements, momentum, and market sentiment. For expert traders, choosing the right platform is just as important as mastering indicators.  Capital Street FX  stands out as a premier broker for professional traders, offering access to over 400 trading instruments, including  forex ,  stocks ,  commodities , and  indices . Combined with its advanced tools, it’s a perfect choice for those seeking to refine their trading strategies. Let’s dive into the five essential technical indicators that every trader must know. Why Choose Capital Street FX as an Expert Trader? A robust platform like Capital Street FX can make all the difference when it comes to trading. Extensive Range of Instruments Capital Street FX has over  400+ trading...
Read more