• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
At the close of trading in Hong Kong stocks, the Hang Seng Index fell 0.04%, while the Hang Seng Tech Index rose 1.32%. Chip stocks surged, with sectors such as optical communication, PCB, artificial intelligence, and power equipment leading the gains, while sectors such as batteries, oil, mainland property, and mainland banks weakened. Zhipu (02513.HK) closed up 36.89%.Both WTI and Brent crude oil prices fell by more than 1% during the day, currently trading at $82.04 per barrel and $86.52 per barrel, respectively.July 21 – KPMGs Chief UK Economist, Yael Selfin, stated that weak wage growth in the UK strengthens the Bank of Englands case for maintaining interest rates. She said that in the three months to May, overall wage growth excluding bonuses remained unchanged at 3.4%, with little evidence that recent energy price increases have been passed on to payroll settlements. Private sector wage growth is currently below the Bank of Englands 2% target, as weak hiring continues to weigh on workers bargaining power. Selfin said, "We expect the Bank of England to keep interest rates unchanged at its meeting next week, and developments in the energy market are likely to play a greater role in shaping the interest rate outlook in the coming months."On July 21, Foreign Ministry Spokesperson Lin Jian held a regular press conference. In response to questions regarding China-EU trade and economic relations, Lin Jian stated that China has repeatedly clarified its position on related issues. China attaches great importance to the differences existing in China-EU trade and economic relations and has always believed that both sides can properly resolve them through dialogue, consultation, and policy interaction. These differences should not become obstacles to mutual trust and cooperation between China and the EU, nor should they be used as a basis for decoupling or breaking off trade chains, much less as an excuse for making unfounded accusations against China. The essence of China-EU trade and economic relations is mutual benefit and win-win cooperation. China has never deliberately pursued a trade surplus with Europe; the structure of China-EU trade is the result of a combination of factors, including international industrial division of labor and the comparative advantages of different countries. Lin Jian emphasized that protectionism has no future, and win-win cooperation is the right path.The chart shows that at 22:00 Beijing time on July 21, there will be large foreign exchange option orders for Euro, British Pound, Australian Dollar, Canadian Dollar, Japanese Yen, etc., expiring. There are 9 large orders with strike prices of over 1 billion. Please manage your risks.

Analysis of the Silver Price: XAG/USD retreats from the 10-DMA above $19.00

Alina Haynes

Sep 16, 2022 14:47

 164.png

 

Silver price (XAG/USD) oscillates between $19.15 and $20 early on Friday morning in Europe, fading the early Asian session rebound off the 10-day simple moving average.

 

The recent inactivity of the precious metal could be attributed to its inability to surpass the 50-day moving average, which was around $19.25 as of press time. Nonetheless, the bullish MACD indications and firmer RSI (14) provide optimism for the XAG/USD bulls.

 

However, a downward sloping resistance line from June around $19.90 appears to be a formidable obstacle for bulls.

 

The 100-day simple moving average level near $20.35 then functions as the final line of defense for XAG/USD bears before directing the market to the previous monthly peak near $20.90 and finally to the $21.00 threshold.

 

Alternately, pullback moves could initially target the 10-DMA support level of $18.90 before driving sellers to the multiple levels between $18.25 and $18.10.

 

In the event that silver sellers maintain control beyond $18.10, the $18.00 round number and the annual low near $17.55 will be in focus.