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On March 12th, Eli Lee, Chief Investment Strategist at Bank of Singapore, stated in a report that disruptions to oil shipments through the Strait of Hormuz, damage to Middle Eastern infrastructure, and increased volatility in crude oil prices could translate into greater risks to equity valuations. This prompted Bank of Singapore to downgrade its asset allocation for Asian (excluding Japan) equities from "overweight" to "neutral." Within the region, Lee remains optimistic about mainland China, Hong Kong, and the Singapore primary market. Lee specifically pointed out that China has accumulated one of the worlds largest strategic oil reserves, enabling it to buffer against the impact of disruptions to exports through the Strait of Hormuz. He added that oil and gas account for only about 4% of Chinas electricity mix, far below the 40%-50% average in many Asian countries and regions.The SC crude oil futures contract surged 16.00% intraday, currently trading at 753.60 yuan per barrel.The main fuel oil contract surged 14.00% intraday, currently trading at 4858.00 yuan/ton.On March 12, INGs commodities strategy team stated in a report that the IEAs plan to release 400 million barrels of oil reserves is insufficient to offset supply losses in the Persian Gulf region. As part of a coordinated effort, the United States will begin releasing 172 million barrels of its strategic petroleum reserves next week. ING estimates this will take approximately 120 days to complete, equivalent to a daily release of about 1.4 million barrels by the US. ING added, "If we assume other countries follow a similar timeline, the daily release would be approximately 3.3 million barrels, far below the current supply losses we are seeing in the Persian Gulf."March 12th - The China Federation of Logistics and Purchasing officially released the "China Logistics Technology Development Report (2025)" today. According to the report, 2025 will see frequent hot topics in my countrys logistics technology development, with new logistics equipment achieving large-scale application. In particular, the deep integration of "artificial intelligence+" into logistics will improve operational efficiency and effectively help reduce overall social logistics costs. In 2025, the ratio of total social logistics costs to GDP will drop to 13.9%, the lowest level on record, meaning that the logistics costs required to achieve a unit of GDP are decreasing. Embossed robots are beginning to enter warehouses and factories, completing a significant leap from "automated guided vehicles" to intelligent agents that can "perceive, think, and operate."

Silver Price Analysis: XAG / USD finds interest around $20.50 as investors disregard Fed rate hike concerns

Daniel Rogers

Feb 28, 2023 11:38

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After testing buyer interest at $20.55 during the Tokyo session, the silver price (XAU/USD) has climbed back up. On a broader scale, the white metal is confined to a range between $20.55 and $20.80 as investors transfer their attention to Wednesday's release of the United States ISM Manufacturing PMI range.

 

Investors have begun to comprehend the fact that the Federal Reserve (Fed) is required to tighten monetary policy in order to achieve price stability, which has halted the Silver price's four-day losing streak. However, the losing streak may persist because geopolitical tensions between the United States and China have not yet been resolved.

 

S&P500 futures have extended their recovery as investors' risk appetite has increased. After a sharp reversal from around 105.00, the US Dollar Index (DXY) has continued to oscillate around 104.30. The term "ecosystem" refers to a group of people who work in the construction industry. The alpha offered on 10-year US government bonds has increased to approximately 3.93 percent.

 

As the fight against persistent inflation intensifies, the Fed's projections for higher interest rates are bolstered by optimistic consumer spending in the U.S. economy and robust wage gains.


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