EUR/USD 1.17892
0.105%
Gold 4851.48
1.538%
Oil 63.941
1.616%
USD/JPY 156.874
-0.099%
GBP/USD 1.35660
0.262%
GBP/JPY 212.820
0.181%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 6 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on February 6. Some media outlets reported that China has asked state-owned enterprises to suspend negotiations on new cooperation projects with Panama. Earlier this week, the Hong Kong and Macao Affairs Office of the State Council stated that the Panamanian authorities would pay a “heavy price” for this move. What is the Foreign Ministry’s comment on this? Lin Jian stated: “China has repeatedly clarified its position on the issue of Panama’s ports. Our position is clear. For the specific details you asked about, please consult the relevant Chinese authorities.”February 6th - Stellartis will set aside approximately €22 billion in charges related to a comprehensive overhaul of its business, as high costs and sluggish electric vehicle sales force automakers to adjust their strategies. This impairment follows similar moves by Ford, General Motors, and other automakers. Stellartis stated on Friday that this decision is part of a new strategic plan that the company plans to submit in May.February 6th - Danish renewable energy developer Ørsted reported fourth-quarter profits below analysts expectations due to a series of costly setbacks in the US market, hindering the companys transformation efforts. Currently, wind power developers operating in the US are facing significant challenges from the Trump administration, which halted two Ørsted projects in 2025 until a court ruling allowed construction to resume. These shutdowns have exacerbated the companys multiple predicaments in recent years – from soaring costs and supply chain bottlenecks to billions of dollars in asset write-downs. Ørsted is working to repair its balance sheet. Last year, the company raised funds through a large-scale share placement and recently agreed to sell its European onshore business, completing its divestiture plan. Despite the still uncertain industry outlook, the companys share price has risen 14% this year, suggesting its most difficult period may be over.February 6th - Tesla Vice President Tao Lin stated today that Tesla will actively participate in a series of related work on assisted driving and other related projects in the Chinese market, but a specific launch timeline cannot be provided at this time. Elon Musk previously stated that Teslas Full Self-Driving (FSD) will be deployed in Europe this February, with the Chinese market following suit.On February 6, the Shanghai Headquarters of the Peoples Bank of China held the 2026 Shanghai Cross-border RMB Business Work Conference. The conference emphasized four key points: First, adhere to the principle of prioritizing the local currency, continuously improve the facilitation of cross-border RMB settlement, facilitate the use of RMB for pricing and settlement in various cross-border trade and investment, and enhance the international currency functions of RMB in pricing, payment, investment and financing, and reserves. Second, adhere to serving the real economy, continuously enrich the supply of cross-border RMB financial products, improve the professionalism and refinement of financial services, better meet the market demands of business entities in transaction settlement, investment and financing, and risk management, and actively contribute to stabilizing foreign trade and investment. Third, adhere to reform and innovation, promote the expansion of the comprehensive reform pilot program for offshore trade and financial services in the Lingang New Area, support high-quality enterprises to participate in the pilot program for upgrading the functions of free trade accounts, and fully release the policy dividends of the pilot program. Fourth, adhere to preventing financial risks.

Forecast for Silver Price: XAG/USD is rising quickly and is approaching the $20.00 mark

Alina Haynes

Sep 15, 2022 11:43

 157.png

 

Silver price recovers around the 50-day exponential moving average and advances towards a daily high of $19.69 on Wednesday after the US Labor Department reported that August PPI was in line with predictions of diminishing inflationary pressures on the producer side. Therefore, the XAG/USD is trading at $19.61, 1.86% higher than its initial price.

 

Before Wall Street opened, the Bureau of Labor Statistics (BLS) of the United States reported that the Producer Price Index (PPI) for August decreased by 0.1%, in line with expectations, while the year-over-year figure fell to 8.7%, less than the 9.8% reported in July. Meanwhile, the so-called core PPI, which excludes volatile goods, increased by 0.4% month-over-month and 7.3% year.

 

In the meantime, the US Dollar Index, a measure of the dollar's value against a basket of six currencies, ended Wednesday's session down 0.15 percent, at 109.648, weighed down by US Treasury yields, particularly the 10-year benchmark note rate, which remained unchanged throughout the day at approximately 3.404%.

 

The US Dollar Index reflects the aforementioned by declining by 0.09% and falling below the 110.000 barrier. Similarly, the US 10-year benchmark note rate exhibits signs of weariness, remaining flat at approximately 3.414%.

 

The fact that US 10-year TIPS yields, a proxy for actual yields, rose by only one basis point to 0.939% was a further factor supporting the white metal price.

 

On Thursday, the US economic calendar will contain jobless claims, retail sales, and the New York and Philadelphia Fed Manufacturing Indices, which will serve as a precursor to the ISM report in October.

 

The daily XAG/USD chart depicts the white metal as neutral to bearishly biased. Nonetheless, if silver buyers recapture the $20,000 threshold, this might pave the way for a test of a four-month-old downslope trendline near $20.20 prior to reaching the 100-day EMA at $20.39. A breach of the latter will reveal the cycle high from August 15 at $20.87, ahead of the psychological milestone of $21.00.


Suggestion