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SK Hynix shares rose 12% to 1.893 million won.Most Chinese concept stocks returning to Hong Kong fell, with New Oriental (09901.HK) down more than 5%, GDS Holdings (09698.HK) and Baidu (09888.HK) down more than 4%, and Huazhu Group-S (01179.HK), Bilibili (09626.HK) and Alibaba (09988.HK) down more than 3%.On May 11th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1380%, and the lowest was 0.9360%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0310%, and the lowest was 1.0010%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.1200%, and the lowest was 1.0020%.On May 11, data from the National Bureau of Statistics showed that in April, prices for food, tobacco, alcohol, and dining out decreased by 0.8% year-on-year, contributing approximately 0.24 percentage points to the decline in the Consumer Price Index (CPI). Within the food category, meat prices decreased by 6.7%, contributing approximately 0.28 percentage points to the decline in the CPI, with pork prices decreasing by 15.2%, contributing approximately 0.29 percentage points to the decline in the CPI. Fresh fruit prices decreased by 1.0%, contributing approximately 0.02 percentage points to the decline in the CPI; fresh vegetable prices decreased by 0.5%, contributing approximately 0.01 percentage points to the decline in the CPI; and aquatic product prices increased by 1.3%, contributing approximately 0.02 percentage points to the increase in the CPI.Chinas April CPI rose 0.3% month-on-month, below the expected -0.1% and the previous reading of -0.7%.

Silver Price Analysis: XAG / USD hovers around $20.00 ahead of US NFP

Alina Haynes

Mar 10, 2023 11:25

 截屏2022-06-07 下午5.18.01.png

 

Silver price continues to trade sideways on Thursday, in the absence of a catalyst, prior to the release of crucial US economic data. The Mexican Peso (MXN) is depreciating as a result of investors' risk aversion ahead of the US Nonfarm Payrolls report for February. At the time of writing, the XAG / USD exchange rate was $20.05, an increase of 0.19%.

 

XAG / USD remained steady throughout the day, unable to break above or below the $19.98-$20.28 range. However, investors should be aware that Silver fell below the 200-day Exponential Moving Average (EMA) at $21.80, indicating a downward bias for the precious metal. Notably, the 50-day EMA is approaching the 200-day EMA, and once it crosses below the latter, a death cross would exacerbate a decline toward the $18.84 daily low from November 3.

 

But first, XAG / USD must surpass the YTD low of $19.92. A breach of the latter will expose the psychological level of $19.00, followed by the daily low on November 3 at $18.84.

 

In an alternative scenario, the first level of resistance for XAG / USD would be the daily high of $20.06. Once cleared, the next resistance level would be the daily low-turned resistance from February 28 at $20.43, followed by the daily low-turned resistance from November 28 at $20.87.


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