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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: Bulls maintain control of the XAGUSD and could target the $22.50 supply zone

Alina Haynes

Nov 11, 2022 17:35

 截屏2022-11-08 下午5.37.02_1024x576.png

 

On Friday, silver extends its breakout momentum through the extremely significant 200-day simple moving average for a second consecutive session. During the early European session, the white metal reaches a five-month high, but struggles to achieve acceptance beyond the $22.00 round-figure threshold. However, the XAGUSD maintains its intraday gains and is currently trading in the $21.85-$21.90 range, up about 0.90% for the day.

 

The overnight rise from levels below $21.00 and subsequent strength above a technically key moving average bolster the likelihood of a near-term advance. However, the RSI (14) on the daily chart is close to entering overbought territory and aggressive bullish traders should proceed with caution. Before positioning for further gains, it is recommended to wait for some near-term consolidation or a slight drop.

 

Nevertheless, the XAGUSD is prepared to surpass $22.00 and may seek to test the next significant barrier near $22.45-$22.50. The aforementioned region represents a dense supply zone and may prove difficult for bulls to penetrate. However, some follow-through purchasing will signal a new breakout and pave the way for a move toward recovering the $23.00 round number. The momentum might eventually propel spot prices to a May swing high in the vicinity of $23.25 to $23.30.

 

In contrast, the daily low around $21.45 that coincides with the 200 DMA breakout point should protect the downside in the short term. Any more decline could be viewed as a buying opportunity and should be limited near $21.00. A decisive breach below might spark technical selling and bring the XAGUSD below the $20.40 support zone. Failure to defend the previously mentioned support levels could shift the near-term bias toward bearish traders.