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On October 24, Nissin Foods (01475.HK) announced that its Board of Directors has noted unusual recent fluctuations in the trading price and volume of the Companys shares. Having made all reasonable enquiries regarding the Companys circumstances, the Board confirms that it is not aware of (i) any reasons for such fluctuations in the price and volume of the Companys shares, (ii) any information that needs to be announced to avoid creating a false market in the Companys securities, or (iii) any inside information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance. The Board also confirms that the Groups business operations are normal, and there have been no material changes in the Groups business operations and financial position.On October 24, Julien Lafargue, chief market strategist at Barclays Private Bank, pointed out: "From the perspective of market impact, unless there is a significant upward surprise in the US inflation data, the market is unlikely to change its expectations for further interest rate cuts by the Federal Reserve." In addition to the frequent fluctuations in the trade war, the market has recently been boosted by a strong corporate earnings season. According to data tracked by the Atlanta Federal Reserve, before the government shutdown, the US GDP growth rate in the third quarter was close to 4%, showing that the economy still has amazing resilience. Although it is not easy to shake this optimistic narrative, if there is an unexpected CPI, it may be the trigger point. Stephanie Link, chief investment strategist at Hightower Advisors, said: "If the CPI data is higher than expected, I expect market volatility to increase. However, I will regard this as a buying opportunity because the current economy is still strong, the Federal Reserve has started a cycle of interest rate cuts, corporate profits are growing at a double-digit rate, and the fourth quarter has always been the strongest quarter of the year."On October 24, Zhongke Environmental Protection announced that its third-quarter revenue was 424 million yuan, a year-on-year increase of 9.39%, and its net profit was 102 million yuan, a year-on-year increase of 2.35%. For the first three quarters, its revenue was 1.272 billion yuan, a year-on-year increase of 6.06%, and its net profit was 298 million yuan, a year-on-year increase of 13.21%.According to Nikkei News: Japan and the United States will reach a cooperation consensus on artificial intelligence and next-generation telecommunications standards.On October 24th, Mark Dowding, Chief Investment Officer of BlueBay Asset Management, noted that US Treasury yields are likely to continue falling in the short term. The expected weakness in non-farm payroll data following the end of the US government shutdown, coupled with market expectations of an upcoming Federal Reserve rate cut next week, could push yields lower. However, BlueBay Asset Management believes this trend is unsustainable and plans to use the yield correction as a selling opportunity and shift to a shorter-duration strategy. Dowding analyzed that the weak employment data primarily reflects a reversal in immigration flows rather than a sign of a recession.

Analysis of the Silver Price: 100-SMA and immediate resistance line probing XAG/USD buyer below $24.00

Daniel Rogers

Feb 01, 2023 15:28

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During early Wednesday's lethargic Asian session, the silver price (XAG/USD) fluctuates near the mid-$23.00s.

 

In doing so, the precious metal battles to defend yesterday's comeback from $23.00, the first positive day in four, while retreating from the 100-bar Simple Moving Average (SMA), which was approximately $23.70 at the time of publication.

 

The sluggish MACD indications that threaten Tuesday's corrective bounce also give the XAG/USD bears reason for optimism.

 

Notably, the metal's prolonged run-up over the $23.70 barrier may not be enough to satisfy Silver buyers, as a downward-sloping resistance line from January 16 near $23.85 threatens the metal's gains.

 

In addition, the $24.0 round number acts as a barrier to the upside; a breach of this level might accelerate the XAG/USD price to the previous monthly high near $24.55.

 

On the other hand, silver's retracement actions emphasize the $23.00 round number ahead of the previous weekly bottom near $22.75.

 

In the event that XAG/USD bears maintain control beyond $22.75, the December 2022 low around $22.00 will be in focus.

 

Despite recent fails to surpass important short-term obstacles, the Silver price remains on the radar of investors.