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Silver Prices Break Key Downtrend - Bullish Breakout Confirmed for XAG/USD? Advertisement US Dollar weakness against the backdrop of heightened US fiscal stimulus expectations has reinvigorated the bullish fundamental backdrop for silver prices. A break of the downtrend from the August, September, and November swing highs suggests that the bull flag/triangle that formed in silver prices has yielded a bullish breakout. Recent changes in sentimentsuggest that silver prices have a mixed outlook in the short-term. Silver Prices Jump Ahead of December Fed Meeting Silver prices are pacing higher by more than +2% this Wednesday morning, mere hours before the Federal Reserve concludes their December rate decision. The December Fed meeting, which will produce a new quarterly Summary of Economic Projections, is likely to show more stress on the near-term horizon for the US economy, while longer-term potential has been elevated due to the beginning ....
US Recession Watch, December 2020 - Yield Curve Hides Slowing Economy Advertisement US Recession Watch Overview: The US Treasury yield curve has steepened in recent weeks (long-end rates rising faster than short-end rates), but that might not mean that the US economy is out of the woods from the coronavirus pandemic. Q4’20 Atlanta Fed GDPNow projects an +11.2% real quarterly growth rate, but data momentum is slowing, and it’s possible that failure by the US Congress to agree to fiscal stimulus will handicap the economy in Q1’21. Traders continue to anticipate no change in interest rates by the Federal Reserve through January 2022; the Fed has promised to keep rates low through 2023. ....