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The greenback continues to drift near a one-week low after softer-than-expected U.S. CPI and retail sales data last week. Markets are now pricing in two rate cuts by the Fed in 2025.
“The Fed remains in a tough spot—soft data is building the case for easing, but officials are hesitant,” said a commodities analyst at KCM Research.
Silver Struggles Near $32.14 as Dollar Strength Caps Upside
Silver followed gold’s lead, trading near $32.14 after hitting an intraday low. A stronger U.S. dollar and easing geopolitical tensions are weighing on demand for the metal.
Although some uncertainty lingers in global markets, silver has failed to build upward momentum, reflecting investor caution.
Fed Rhetoric and Trade Sentiment to Drive Short-Term Moves
While the downgrade of the U.S. credit rating to “Aa1” by Moody’s last week raised concerns about long-term fiscal sustainability, market reaction was muted. Instead, investor focus is squarely on upcoming Federal Reserve commentary.
Atlanta Fed President Raphael Bostic and New York Fed President John Williams both signaled caution, with Bostic suggesting only one rate cut may be warranted this year.
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