EUR/USD 1.17249
-0.175%
Gold 4387.87
1.596%
Oil 56.946
-0.843%
USD/JPY 156.838
0.107%
GBP/USD 1.34561
-0.127%
GBP/JPY 211.047
-0.006%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to information from the Hong Kong Stock Exchange, the National Integrated Circuit Industry Investment Fund Co., Ltd. has increased its stake in SMIC (00981.HK) from 4.79% to 9.25%.Popular Chinese stocks listed in the US rose across the board in pre-market trading. NetEase (NTES.O) rose 6.1%, NIO (NIO.N) rose 5.5%, Alibaba (BABA.N) rose 4.13%, Li Auto (LI.O) rose nearly 3%, and JD.com (JD.O), TSMC (TSM.N), and Pinduoduo (PDD.O) rose more than 2%.The Russian Ministry of Defense stated that in the past week, Russian troops "liberated" nine residential areas within the Special Military Operations Zone (SMO).On January 2nd, Cyrus de la Rubia, chief economist at Commerzbank Hamburg, stated that demand for manufactured goods in the Eurozone has slowed again. The most obvious indicators are a significant decrease in orders, a reduction in order backlogs, and a continued decline in inventories. In this environment, its not surprising that companies continue to lay off workers. Companies seem neither capable nor willing to build momentum for the coming year, instead proceeding cautiously, which is poison for the economy. Since mid-2022, the manufacturing sector has been almost in recession. 2025 is expected to be a turning point for the industry. Indeed, the economic downturn has eased somewhat, but it has failed to shift to a sustainable growth trajectory. However, by 2026, Germanys economic stimulus plan and rising defense spending in Europe are expected to inject new vitality into the sector. Many companies clearly share this view, as confidence that production will be higher a year from now has risen again from already high levels. Furthermore, input prices have risen for the second consecutive month. This is unlikely to be due to energy prices, as oil and gas prices fell last December. However, prices of industrial metals such as copper and tin have seen significant increases. Surprisingly, despite the weak economic situation, businesses seem unable to force price reductions for goods less reliant on global markets. One explanation could be supply chain issues, such as long delivery times. In short, things arent going smoothly. Overall, it wont be easy for Eurozone manufacturing to regain its footing by 2026. However, expansionary fiscal policies might offer some assistance.The Eurozones M3 money supply annual rate for the three months ending in November was 2.9%, unchanged from the previous month.

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.


Suggestion