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On August 18th, the General Office of the Sichuan Provincial Peoples Government recently issued the "Implementation Opinions on Accelerating the Integration of the Three Networks: Transportation Network, Logistics Network, and Data Network." The opinions propose to orderly promote the development and expansion of unmanned logistics. Unmanned logistics scenarios will be expanded in areas such as urban and rural distribution, trunk transportation, industrial park short-haul transportation, warehousing and sorting, and loading and unloading. The opinions also actively cultivate intelligent air-ground collaborative scenarios combining "unmanned vehicles + drones" and "manned vehicles + drones." Focusing on the "new three categories" of products—lithium batteries, photovoltaic modules, and new energy vehicles—the opinions promote the government and market to collaboratively build a carbon emission accounting and carbon footprint management system, guide enterprises to establish carbon asset management systems and participate in carbon trading, and drive the green and low-carbon transformation of the entire production, distribution, and consumption industries.According to the latest data from the General Administration of Customs, China exported 6.02 million tons of steel plates in July 2026, a year-on-year decrease of 1.8%; cumulative exports from January to July reached 38.26 million tons, a year-on-year decrease of 9.9%.According to data from the General Administration of Customs, China imported 791 tons of polysilicon in July 2026, a year-on-year decrease of 32.4%; cumulative imports from January to July totaled 8,572 tons, a year-on-year decrease of 30.8%.According to data from the General Administration of Customs, China imported 42.73 million tons of coal and lignite in July 2026, a year-on-year increase of 20.3%; cumulative imports from January to July reached 268.11 million tons, a year-on-year increase of 4.3%. On the export side, China exported 770,000 tons of coal and lignite in July, a year-on-year decrease of 1.6%; cumulative exports from January to July reached 3.53 million tons, a year-on-year decrease of 14.1%.On August 18th, three analysts from DBS Groups research department stated in a commentary that the Bank of Japan (BOJ) may accelerate its interest rate hike pace from the current once every six months to once every three to four months. The analysts noted, "We have moved up our expectation for the BOJs next rate hike to September, and anticipate two more rate hikes each in the first and second quarters of 2027, bringing the overnight call rate to 1.75% by mid-2027." They also pointed out that the BOJs recent statements have become more hawkish, and the Japanese government seems less opposed to raising rates earlier than anticipated. DBS Group also raised its 2026 GDP growth forecast for Japan from 0.5% to 0.9%, and its 2027 GDP growth forecast from 0.5% to 1.0%.

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.