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July 22 - Hong Kong-listed company, HOLDINGS (01243.HK), announced that for the three months ended June 30, 2026, the Group, together with its joint ventures, achieved unaudited contracted sales of approximately HK$1.212 billion. The total contracted sales area was approximately 47,784 square feet.On July 22, Ribobio (06938.HK) announced positive results from a Phase 2a study conducted in Europe evaluating vortosiran (RBD4059), a small interfering RNA (siRNA) therapy targeting coagulation factor XI (FXI), in patients with chronic coronary artery disease (CAD), at the Global Conference on New Drugs in Major Countries held in Shanghai. This randomized, double-blind, placebo-controlled study showed that vortosiran was generally well-tolerated in patients receiving standard aspirin therapy and significantly, dose-dependently, and persistently inhibited FXI activity. In patients who completed a high-dose vortosiran treatment course with a maintenance dose of 400 mg, the average maximum reduction in FXI activity reached 92%, and this reduction persisted for several months after administration.July 22 – Morningstar DBRS analyst Julia Specht noted in a report that the UKs public finances remain strained, and its credit quality hinges on the governments ability to implement credible economic and fiscal plans within limited fiscal space. In June, net borrowing by the UK public sector fell 33.1% year-on-year to £16 billion ($21.4 billion), but cumulative borrowing for the first few months of the fiscal year ending in June was still £2.7 billion higher than the Office for Budget Responsibilitys forecast. Specht stated, "The key to the credit assessment lies in whether new Prime Minister Burnham can advance his policy objectives without damaging fiscal credibility."On Wednesday, July 22, the Hang Seng Index closed down 239.63 points, or 0.95%, at 24,892.66; the Hang Seng Tech Index closed down 146.6 points, or 3.04%, at 4,668.23; the H-share Index closed down 109.61 points, or 1.31%, at 8,251.07; and the Red Chip Index closed up 37.61 points, or 0.92%, at 4,121.28.July 22nd - Tesla (TSLA.O) will release its Q2 earnings after the market closes on Wednesday. More than revenue and profit figures, investors are focused on the signals Elon Musk will deliver during the earnings call, particularly the latest developments regarding Robotaxi, the humanoid robot Optimus, and the companys artificial intelligence strategy. Morgan Stanley analyst Andrew Percoco stated that Robotaxi and Optimus will remain the main drivers of the stock price, and while these two businesses are expected to see positive updates in this earnings report, they may not be enough to decisively change the markets valuation of the company. With the company continuing to invest heavily in data centers, AI infrastructure, and robot manufacturing capabilities, capital expenditures this year are projected to reach $25 billion. According to LSEG data, Teslas Q2 free cash flow is expected to be a net outflow of $3.3 billion, marking the first quarterly net cash outflow in over two years. Morgan Stanley points out that investors are increasingly focused on whether Teslas massive investments truly enhance its competitive advantage in the field of physical AI, and when these investments will translate into profits.

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

Alina Haynes

Sep 15, 2022 11:43

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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.


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