Silver price (XAG/USD) recovers strongly from four-month low of $26.30 as the United States Institute of Supply Management (ISM) has reported a weak Manufacturing PMI report for April.
Silver price rebounds sharply from $26.30 as US Manufacturing PMI contracted in April. The speculation for Fed ’s hawkish interest rate outlook remains firm as Manufacturing Price Paid rise above 60.0. Investors await the Fed ’s policy decision for meaningful guidance. Silver price recovers strongly from four-month low of $26.30 as the United States Institute of Supply Management has reported a weak Manufacturing PMI report for April.
As the Fed is widely anticipated to maintain the status quo, investors will keenly focus on the interest rate guidance. The CME FedWatch tool shows that policymakers will favor unwinding the restrictive monetary policy framework from the September meeting. Therefore, the Fed will maintain a hawkish stance on interest rates in the near-term. Investors would keenly focus on whether the Fed will remain committed to its three-rate cut projections for this year, indicated by Marchs dot plot.
XAGUSD Fed PMI Inflation Silver
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