- Metals are under pressure Thursday, ahead of US data.
- The dollar gains moment days before the FOMC and Treasury yields rebound.
- XAG / USD at low since Aug 23 below $ 23.50.
As he oro like silver are falling significantly on Thursday. In the case of silver, the XAG / USD is down 2.05%, trading at $ 23.30, the lowest level since August 23.
The break at $ 23.65 triggered further weakness in silver, which had started after failing to break above $ 24.00 hours ago. The pullback accelerated, accompanying gold, and is approaching the next support seen at $ 23.20. Below then the zone of $ 22.99 will follow. Should it return above $ 23.70, the downward pressures of XAG / USD would ease.
In minutes there will be data from the US, including retail sales and unemployment benefits. Good numbers may continue to boost the dollar, through an advance in US Treasury yields.
The 10-year rate rises on Thursday and stands at 1.31%, after being at 1.26% on Wednesday. The bond market is expected to continue to be of great attention, considering the proximity with the next meeting of the Federal Reserve.