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On June 29th, Citi reported that Apple has expressed interest in Changxin Memory Technologies Co., Ltd.s (CMT) memory chips. This endorsement would transform CMT from a "Chinese domestic substitution story" into a "credible fourth-largest DRAM manufacturer globally." The news is expected to benefit CMT and its supply chain, including equipment suppliers and OSAT (Outsourced Equipment and Materials Testing) vendors.On June 29th, Kaisa Capital announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary, Eyu Asia Pacific Limited, recently entered into a strategic cooperation agreement with a technology company. This partner is a leading global AI computing power provider, focusing on pioneering domestically developed AI chip technology and committed to providing a new generation of AI computing platforms with high performance, low latency, and high cost-effectiveness. Both parties will integrate their respective core strengths to jointly expand the practical application of domestically developed AI chips, computing power products, and supporting solutions in diverse industrial scenarios both domestically and internationally.As of 8:30 AM Beijing time, spot platinum was down 0.79% and spot palladium was down 0.11%.On June 29, the Australian Prudential Regulation Authority (APRA) released a public consultation proposal to amend the credit risk capital requirements for banks. The aim is to increase credit supply to support the economy while maintaining the soundness of the financial system. While maintaining the "unquestionably strong" banking system, APRA plans to lower the standard risk weights for some corporate loans to better reflect actual risk. Key proposals include: lowering the risk weights for large domestic public infrastructure loans; lowering the risk weights for high-quality unrated corporate loans that meet certain criteria; and adjusting the standards for land acquisition, development, and construction (ADC) loans to allow more residential development projects to apply the lower 100% risk weight. APRA plans to finalize the proposal in the second half of 2026 and implement it on April 1, 2027.According to the network monitoring website DownDetector, users have reported that Apple Maps and Google Maps are experiencing outages.

Silver Prices Stabilized Due to Concerns Over Ukraine's Counter-hawkish Fed Policy

Larissa Barlow

Apr 08, 2022 10:23

Tips

  • Despite mounting inflation concerns, silver prices remained stable.

  • The dollar strengthens upon the publication of the Federal Reserve's minutes.

  • Benchmark yields decreased following a week-long surge.

  • Oil prices are falling as the US and EIA pledge to release critical stockpiles.

 

Silver prices remained unchanged as mounting inflation fears fueled demand for the safe-haven metal. Benchmark rates fell today on the Fed's announcement of aggressive policy tightening. The 10-year yield reaches its highest level since March 2019 of 2.67 percent. Gold and silver prices climbed as fears of escalating inflation fueled demand for safe-haven assets. The inflation scenario contradicts the Fed's instructions to raise interest rates. Oil prices fell as EIA member states announced plans to release additional strategic reserves. This is the largest release since the stockpile was established in 1980. Analysts disagree on the extent to which the release of supply will affect market tightness.

 

For the latest week, jobless claims decreased by 5,000 to 166,000. This figure, which is the lowest since 1968, indicates the extent to which the job market tightened last week. Dow Jones estimated the figure at 200,000. The job market has been experiencing a significant scarcity of workers. Increased demand for labor has resulted in rising wages and soaring inflation.

Technical Evaluation

Silver prices remained relatively stable near the 24.6 level, as the recent sanctions against Russia continue to underpin XAG/USD. Silver, on the other hand, may suffer downward pressure to the $24.00 mark as yields rise and the dollar strengthens. Bulls may target silver in order to break through the $25 level and maintain momentum. Near the horizontal trendline near 23.6, there is support. Near the $26.00 level, resistance is located. Short-term momentum shifted negative as the fast stochastic crossed below the zero line, signaling a sell signal.

 

The medium-term momentum is positive, as indicated by the histogram's positive correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is positive but decelerating, indicating a negative trend in price movement.

 

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