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Xunze (03317.HK), the first company to list on the Hong Kong stock market specializing in token transactions, rebounded in the afternoon, narrowing its losses to 3.9%, after falling more than 9% earlier in the session. According to sources, a key reason for Alibaba Clouds recent price increase is a "surge in token usage."Alibaba (09988.HK) rose in the afternoon and is currently up 2.6%.According to the Financial Times, Microsoft (MSFT.O) is considering legal action against a $50 billion deal between Amazon (AMZN.O) and OpenAI, as the deal may violate its exclusive cloud services partnership agreement with the ChatGPT developer.1. Commerzbank: Expects the Fed to keep rates unchanged at the next two meetings, with the window for rate cuts potentially opening mid-year with Warshs appointment. 2. Barclays: Expects 25 basis point rate cuts in September 2026 and March 2027, compared to previous forecasts of June and December this year. 3. ANZ: Expects rates to remain unchanged in March, with a high probability of restarting rate cuts in June, maintaining its baseline forecast of three rate cuts this year. 4. Morgan Stanley: Expects rates to remain unchanged in March, potentially hinting at 25 basis point cuts in both this year and next, ultimately reaching a range of 3.0-3.25%. 5. RBC: Still expects the Fed to hold rates steady in 2026, and anticipates three 25 basis point "normalization" rate cuts in 2027. 6. Traders: Expects rates to remain unchanged in March; anticipates most members will still believe that rate cuts will be appropriate once inflation is confirmed to have stopped accelerating again. 7. Montreal: The Federal Reserve is expected to cut interest rates twice this year, with the first cut in September. Inflationary pressures may force the Fed to maintain a neutral stance for a longer period. On March 18, South Korean Presidential Chief of Staff Kang Hoon-sik announced at a press conference that the United Arab Emirates (UAE) has pledged to prioritize crude oil supplies to South Korea. The two sides have reached an agreement to sign a Memorandum of Understanding on crude oil supply chain cooperation, which includes exploring alternative supply routes, and is expected to be signed soon. Kang, who recently visited the UAE as President Lee Jae-myungs special envoy for strategic economic cooperation, returned to South Korea. Kang stated that an agreement has been reached allowing South Korea to make emergency crude oil purchases through the UAE, with a confirmed emergency import of 18 million barrels of crude oil from the UAE. Furthermore, Kang noted that no discussions regarding the Strait of Hormuz were held with the UAE during his visit.

Silver Price Analysis: XAG/USD is around the daily high and is set for additional appreciation

Alina Haynes

Dec 26, 2022 19:12

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Silver receives new offers on Friday, snapping a two-day losing run and halting this week's retreat from an eight-month peak. The white metal maintains its bid tone throughout the first half of the European session and is currently positioned near the daily high, in the vicinity of $23.75.

 

The development of purchasing at the $23.40-$23.35 horizontal resistance breakpoint, which is now acting as support, favors bullish traders from a technical standpoint. The restrictive setting is backed by oscillators on the daily chart maintaining their positive bias and oscillators on the 4-hour chart regaining momentum.

 

Consequently, a subsequent rally toward recovering the $24.00 threshold remains a real possibility. The next significant barrier is located at the multi-month high, in the vicinity of the $24.30 region that was achieved on Wednesday. If this barrier is cleared, the XAG/USD should rise towards the $25.00 psychological level, with an intermediate barrier near the $24.60-$24.70 region.

 

On the other hand, the $24.40-$24.35 resistance-turned-support, which is also the daily low, should protect the near-term downside before to the $24.15 confluence support. The latter consists of the 100-period SMA on the 4-hour chart and an ascending trend line extending from the November low, which should provide a solid foundation for the XAG/USD.

 

A convincing breakthrough, followed by a decline below the $23.00 round number, will negate the positive view and alter the bias towards bearish traders. The XAG/USD may therefore become susceptible and accelerate its decline to test the $22.00 round-figure level, with some intermediate support in the $22.55-$22.50 horizontal zone.

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