FX.co ★ Silver Rises Ahead of US Inflation Data

On Tuesday, silver experienced an upswing toward $38 per ounce, recovering from losses incurred during the previous session. This movement comes as investors prepared for significant U.S. inflation data, which could influence the Federal Reserve's future policy trajectory. Although consumer prices are projected to show a minor uptick, market participants largely expect an interest rate cut in September, with a further reduction anticipated by the end of the year. Fed Governor Michelle Bowman commented on Saturday that the latest weak employment report highlights the labor market's vulnerabilities, reinforcing her position that three rate cuts might be necessary this year. In trade developments, President Donald Trump extended the truce between the U.S. and China by an additional 90 days to provide more time for negotiations. Investors are also focusing on the upcoming Friday meeting between Trump and Russian President Vladimir Putin, which aims to address the conflict in Ukraine.