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July 6th - From July 2nd to 3rd, the National Data Administration convened a field meeting in Beijing on the National Data Elements Comprehensive Pilot Zones (with a focus on medical data circulation and utilization). The meeting summarized and exchanged experiences in building national data elements comprehensive pilot zones, promoted the safe, compliant, and efficient circulation and utilization of data resources in the medical field, and deepened the integration of Digital China and Healthy China initiatives. The meeting emphasized the need to further strengthen top-level design and mechanism innovation. Local governments should enhance collaboration between data management departments and health departments, improve incentive mechanisms, and mobilize the enthusiasm and initiative of hospitals, doctors, and market operators to create a positive cycle for medical data circulation.Ukrainian authorities say the Russian attack on Kyiv has killed three people.July 6 – The Kuwait Arab Economic Development Foundation announced on July 5 the establishment of the “Kuwait Emergency Response Fund,” with an initial capital of US$100 million. The fund aims to enhance the countrys capacity to respond to emergencies and exceptional challenges, and to support post-crisis social recovery and infrastructure reconstruction. According to Kuwaiti sources, Kuwaiti Foreign Minister and Chairman of the Board of Directors of the Kuwait Arab Economic Development Foundation, Al-Jalah, stated at a press conference on July 5 that the fund aims to establish an institutionalized emergency response financing mechanism to improve the countrys crisis response capabilities. Al-Jalah said that the spillover effects of the conflict between the United States, Israel, and Iran have impacted Kuwaits security and stability, necessitating further strengthening and unifying efforts from all parties to enhance the countrys capacity to respond to various exceptional circumstances. The fund will mobilize domestic funds to support the repair of infrastructure damaged in the conflict. Al-Waleed Bahar, Acting Director General of the Kuwait Arab Economic Development Foundation, stated that the fund will serve as a dedicated financing window, providing financial support to priority projects based on government needs.July 6 – The European Central Bank (ECB) announced on Monday that its Target 2 (T2) payment system, used for settling everyday payments and financial transactions, has resumed normal operation after a brief payment processing outage. According to the ECBs website, the ECB and financial institutions rely on the T2 system for large payments and receipts, ensuring seamless settlement in central bank currency. The ECB had earlier stated in an update to its operational status page that the T2 system was in a "non-mandatory maintenance window," causing a delay in the opening of the settlement window for euros and Danish krone.July 6th - Multiple explosions were heard in Kyiv, the capital of Ukraine, on the 6th local time. Kyiv Mayor Viktor Klitschko stated that five people have been injured in Kyiv so far. Earlier that day, multiple explosions were heard in Kyiv. The head of the Kyiv Military Management Department, Tkachenko, posted on social media that Russian forces were launching ballistic missiles at Kyiv. Local officials also posted on social media that a residential building had been hit by a missile, trapping residents inside.

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.