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June 4th - Initial jobless claims in the U.S. for the week ending May 30th were 225,000, higher than the expected 213,000 and the revised previous weeks 212,000, marking the highest level since the first week of February. The four-week moving average was 214,750, higher than last weeks 208,250. Continuing jobless claims were 1,777,000, slightly lower than the expected 1,780,000. The rise in initial jobless claims indicates a weakening employment situation, but it remains relatively low and stable. Continuing jobless claims declined slightly. It should be noted that continuing jobless claims data has a one-week lag, so next weeks data will correspond to this weeks initial jobless claims data. U.S. stocks traded mixed in pre-market trading, with Dow Jones futures up 1%, S&P 500 futures down 0.22%, and Nasdaq futures down more than 1%. U.S. Treasury yields fell, with the 2-year Treasury yield at 4.039%, down 4.5 basis points; the 10-year Treasury yield at 4.455%, down 3.8 basis points; and the 30-year Treasury yield at 4.960%, down 3.0 basis points.The number of Americans filing for unemployment benefits for the week ending May 30 was 225,000, the highest since the week ending February 7, 2026.The number of Americans continuing to claim unemployment benefits for the week ending May 23 was 1.777 million, compared with an expected 1.78 million and a revised 1.785 million for the previous week (originally reported as 1.786 million).According to Hong Kong Stock Exchange documents, Silvercorp Metals Inc. has submitted a listing application to the Hong Kong Stock Exchange.S&P Global has launched a credit memo generation tool powered by intelligent agent-based artificial intelligence.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.


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