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February 13th - The Peoples Bank of China released its financial statistics report for January 2026. At the end of January, the outstanding balance of RMB and foreign currency loans was 280.59 trillion yuan, a year-on-year increase of 6%. The outstanding balance of RMB loans at the end of January was 276.62 trillion yuan, a year-on-year increase of 6.1%. RMB loans increased by 4.71 trillion yuan in January. By sector, household loans increased by 456.5 billion yuan, of which short-term loans increased by 109.7 billion yuan and medium- and long-term loans increased by 346.9 billion yuan; loans to enterprises and institutions increased by 4.45 trillion yuan, of which short-term loans increased by 2.05 trillion yuan, medium- and long-term loans increased by 3.18 trillion yuan, and bill financing decreased by 873.9 billion yuan; loans to non-bank financial institutions decreased by 188.2 billion yuan.February 13th - The Peoples Bank of China released its financial statistics report for January 2026. At the end of January, the balance of RMB and foreign currency deposits totaled 344.46 trillion yuan, a year-on-year increase of 10.1%. The balance of RMB deposits at the end of the month was 336.77 trillion yuan, a year-on-year increase of 9.9%. RMB deposits increased by 8.09 trillion yuan in January. Among them, household deposits increased by 2.13 trillion yuan, non-financial enterprise deposits increased by 2.61 trillion yuan, fiscal deposits increased by 1.55 trillion yuan, and deposits of non-bank financial institutions increased by 1.45 trillion yuan. At the end of January, the balance of foreign currency deposits was 1.1 trillion US dollars, a year-on-year increase of 23.7%. Foreign currency deposits increased by 43.8 billion US dollars in January.Chinas M1 money supply grew at an annual rate of 4.9% in January, below the expected 3.6% and the previous reading of 3.8%.On February 13, the Peoples Bank of China released its financial statistics report for January 2026. Preliminary statistics show that total social financing in January 2026 reached 7.22 trillion yuan, 166.2 billion yuan more than the same period last year. Specifically, RMB loans to the real economy increased by 4.9 trillion yuan, 317.8 billion yuan less than the same period last year; foreign currency loans to the real economy increased by 46.8 billion yuan (converted to RMB), 86 billion yuan more than the same period last year; entrusted loans decreased by 19.2 billion yuan, 64.1 billion yuan less than the same period last year; trust loans decreased by 400 million yuan, 62.7 billion yuan less than the same period last year; undiscounted bank acceptance bills increased by 629.3 billion yuan, 163.9 billion yuan more than the same period last year; net financing of corporate bonds was 503.3 billion yuan, 57.9 billion yuan more than the same period last year; net financing of government bonds was 976.4 billion yuan, 283.1 billion yuan more than the same period last year; and domestic equity financing of non-financial enterprises was 29.1 billion yuan, 18.2 billion yuan less than the same period last year.On February 13, the Peoples Bank of China released its financial statistics report for January 2026. Preliminary statistics show that at the end of January 2026, the outstanding amount of total social financing was 449.11 trillion yuan, a year-on-year increase of 8.2%. Specifically, outstanding RMB loans to the real economy amounted to 273.3 trillion yuan, a year-on-year increase of 6.1%; outstanding foreign currency loans to the real economy (converted to RMB) amounted to 1.09 trillion yuan, a year-on-year decrease of 12.1%; outstanding entrusted loans amounted to 11.3 trillion yuan, a year-on-year increase of 0.2%; outstanding trust loans amounted to 4.67 trillion yuan, a year-on-year increase of 7%; outstanding undiscounted bank acceptance bills amounted to 2.78 trillion yuan, a year-on-year increase of 6.7%; outstanding corporate bonds amounted to 34.69 trillion yuan, a year-on-year increase of 6.1%; outstanding government bonds amounted to 95.9 trillion yuan, a year-on-year increase of 17.3%; and outstanding domestic shares of non-financial enterprises amounted to 12.23 trillion yuan, a year-on-year increase of 3.9%.

Rising wedge confirmation lures XAG/USD bears towards $22.00, according to Silver Price Analysis

Daniel Rogers

Mar 22, 2023 14:43

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Silver price (XAG/USD) remains depressed around $22.30, circling intraday lows during a three-day downtrend entering Wednesday's European session.

 

The recent decline of the precious metal may be attributable to the affirmation of a two-week-old rising wedge bearish chart pattern and the bearish MACD signals.

 

Consequently, the price is poised to test the 200-Simple Moving Average (SMA) support level near $21.50 before falling to its theoretical target of $17.10.

 

Notably, the swing high from late February and the current monthly low, respectively $22.00 and $19.90, can serve as additional downside filters during the XAG/USD's continued decline.

 

In contrast, the wedge's lower line functions as immediate resistance for the Silver price near $22.70.

 

The 61.8% Fibonacci retracement of the metal's February-March decline, also known as the "golden Fibonacci ratio," could then challenge Silver purchasers near $22.85.

 

In the event that the XAG/USD remains firmer than $22.85, the top line of the aforementioned bearish chart pattern will join the late January swing low to emphasize $23.00 as a formidable barrier for the Silver bulls to overcome before regaining control.