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On February 19th, the Russian Ministry of Defense issued a battle report on the 18th, stating that Russian forces had captured Kharkivka in the Sumy region and Krinichnoye in the Zaporizhzhia region, and had also attacked fuel depots, energy facilities, long-range drone launch sites used by Ukrainian forces, as well as temporary deployment points of Ukrainian armed forces and foreign mercenaries. The General Staff of the Ukrainian Armed Forces stated on the same day that, as of 10 PM local time on the 18th, a total of 201 battles had occurred in the front-line areas, including 16 attacks by Russian forces in the Konstantinovka direction, in which Ukrainian forces attacked Russian personnel and equipment.A Reuters poll shows that two-thirds of Japanese companies are concerned about Prime Minister Sanae Takaichis fiscal discipline.Dominic LeBlanc, Canadas Minister for Canada-US Trade: (When asked if Canada had discussed any contingency plans with Mexico should the US seek a bilateral agreement) No.Dominic LeBlanc, the Canadian Minister in charge of trade with the United States and Canada: I am reassured that the Mexican Minister of Economy has expressed his willingness to work with Canada and ensure that the review of the USMCA results in a trilateral trade arrangement.Conflict Status: 1. Ukraine reportedly recaptured 201 square kilometers of land in five days. 2. Russian troops have taken control of Krinichny in eastern Ukraine. 3. Russian Foreign Ministry: Dutch mercenaries flying Ukrainian aircraft will be legal targets. Peace Negotiations: 1. Russian media: No documents were signed at the Geneva talks. 2. Head of the Russian delegation: The negotiations lasted about two hours, difficult but pragmatic. A new round of talks on the Ukraine issue will be held soon. 3. White House Press Secretary: The latest round of trilateral contacts "made meaningful progress," and all parties agreed to continue negotiations. 4. Zelensky: Differences remain in current positions; European participation in peace negotiations is crucial. 5. Zelensky: The talks at the military level were substantive; political issues need further study. He hopes the next round of negotiations will be held in February. 6. Zelensky: Ukraine and Russia are "close" to forming a document on how to monitor the ceasefire; the United States will play a leading role in monitoring the ceasefire. 7. Russian Foreign Minister: Russia and the United States have agreed to establish a bilateral economic working group to discuss trade and economic issues separately. 8. Zelensky: The next round of talks with Russia will be held in Switzerland. Other developments: 1. Zelensky: Sanctions have been imposed on Belarusian President Lukashenko. 2. Hungary and Slovakia have announced a suspension of diesel exports to Ukraine. 3. The EU has adopted a comprehensive strategy to support member states bordering Russia and Ukraine. 4. Russian oil drilling activity is projected to fall to its lowest level in three years by 2025. 5. Data shows that India imported 1.1 million barrels per day of Russian oil in January, the lowest level since November 2022.

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.