• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 18th - At 11:58 AM Beijing time on June 17, 2026, the Kuaizhou-11 Y13 carrier rocket was launched from the Jiuquan Satellite Launch Center, sending the Microspace 05 group of satellites into their predetermined orbit. The flight test mission was a success.Hong Kong Monetary Authority: The Federal Reserves decision to keep interest rates unchanged was in line with market expectations.HSBC Hong Kong: The prime lending rate for Hong Kong dollars remains unchanged at 5%.On June 18, the Hong Kong Monetary Authority (HKMA) responded to the Federal Reserves interest rate decision, stating that the Feds decision to maintain the current interest rate was in line with market expectations. The post-meeting statement indicated that inflation remained at a relatively high level, reflecting the Committees concern about the inflation outlook. In Hong Kong, the money and financial markets continued to operate smoothly. Under the linked exchange rate system, Hong Kong dollar interbank rates generally converge with US dollar interest rates, while shorter-term interbank rates are also affected by the supply and demand of Hong Kong dollar funds in the local market, such as seasonal factors and capital market activity. Changes in US interest rates will depend on inflation trends, the employment market situation, and other economic data, which will also affect Hong Kongs interest rate environment. Citizens should fully consider and manage interest rate risks when making decisions regarding property purchases, investments, or borrowing. The HKMA will continue to closely monitor market changes and maintain monetary and financial stability.On June 18th, the "Offshore Wind Power Review and Outlook" report was released in Shanghai yesterday (June 17th). The report shows that by 2025, my countrys newly added grid-connected offshore wind power capacity will account for 78% of the global total, maintaining its leading position globally. In 2025, the global newly added grid-connected offshore wind power capacity will reach 9.252 million kilowatts, a year-on-year increase of 16%, of which the Chinese market contributed 7.192 million kilowatts, accounting for a high 78%. By the end of 2025, the global cumulative grid-connected offshore wind power capacity will reach 92.475 million kilowatts, with China accounting for 56% of the global total with a cumulative installed capacity of 52.042 million kilowatts, continuing to lead the world. The 15th Five-Year Plan clearly states the goal: to build offshore wind power bases in the Bohai Sea, Yellow Sea, East China Sea, and South China Sea, and to promote the standardized and orderly development of deep-sea wind power, with the cumulative grid-connected offshore wind power capacity reaching over 100 million kilowatts.

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.