$XAG Price Declined After Strong US Jobs Data Reduces Fed Rate Cut Possibility
$XAG dropped to $74.11 on Thursday and overall bearish trend resumed today. $XAG is trading near $77 and its recovery from February low level stopped đ». This downward momentum comes after strong US jobs data that reduced expectations for near-term Fed rate cuts.
US labor reports showed non-farm payrolls rose by 130,000 in January vs. a 70,000 forecast, and unemployment rate fell to 4.3% đ. This stronger-than-expected jobs date boosted the dollar and lowered demand for non-yielding assets like silver, pushing its prices downward đ.
Markets are still expecting a 50 basis point rate cut by Fed by the end of 2026, which limits the further decline of Silver for now, but ongoing geopolitical risks and uncertainty on Fed rate cut timeframe means high volatility of #xagusdt price may continue â ïžđ.
Technically, daily oscillators are on negative zone and price remains under the 50-day SMAâif #XAGUUSDT price fails to reclaim this level, expect further downward movement towards the 50-day EMA and lower support levels âŹïžđ .
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