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Frances final harmonized CPI annual rate for July was 2.4%, in line with expectations and down from 2.40% previously.Frances final harmonized CPI monthly rate for July was 0.6%, in line with expectations and down from 0.60% previously.The final reading of Frances July CPI will be released in ten minutes.On August 14th, the China Motorcycle Chamber of Commerce released data showing that in July, the industry produced and sold 1.9384 million and 1.8996 million gasoline-powered motorcycles, respectively, representing month-on-month increases of 5.13% and 2.97%, and year-on-year increases of 22.32% and 18.85%. According to incomplete statistics from the Chamber, electric motorcycle production and sales reached 331,100 and 321,200 units, respectively, representing month-on-month decreases of 21.21% and 20.87%, and year-on-year increases of 10.37% and 9.5%. In July, total motorcycle production and sales reached 2.2696 million and 2.2208 million units, respectively, with production increasing by 0.24% month-on-month and sales decreasing by 1.33% month-on-month, but year-on-year increases of 20.42% and 17.4%. Domestic motorcycle sales reached 801,200 units, a month-on-month decrease of 8.15% and a year-on-year increase of 7.6%; domestic sales of gasoline-powered motorcycles reached 484,900 units, a month-on-month increase of 0.79% and a year-on-year increase of 6.03%.On August 14th, at Baidu AI Day, Baidu Wenku Cloud Drive officially announced the Chinese name of its general-purpose intelligent agent GenFlow as "KuKu AI". GenFlow has surpassed 100 million monthly active users, and its AI office MAU currently exceeds 25 million. Simultaneously, Wenku Cloud Drive announced the launch of the "KuKu AI" standalone platform, including the KuKu AI office PC client, KuKu AI web client, mini-program, and KuKu AI enterprise edition.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.


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