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March 14 – According to foreign media reports, U.S. Energy Secretary Frank Wright took action on Friday to retaliate against two of the Trump administrations biggest adversaries: the oil supply disruptions caused by the war with Iran, and California Governor Gavin Newsom. Wright issued an order clearing the way for a company operating near the California coast to restart an oil pipeline that had been shut down by state officials since 2015. The Department of Energy characterized this move as a way to reduce reliance on oil imports via the Strait of Hormuz. "Today, more than 60 percent of the oil used by California refineries comes from overseas, a significant portion of which is transported through the Strait of Hormuz—a serious national security threat," the Department of Energy wrote in a statement. Wright stated that this move will "strengthen the United States oil supply and restore pipeline systems critical to our national security and defense, ensuring that military facilities on the West Coast have reliable energy sources essential for readiness."According to the Wall Street Journal, sources familiar with the matter said that given polls showing President Trump’s actions on the vaccine issue are unpopular, his aides have decided to take a more active role in managing the U.S. Department of Health and Human Services, which is led by Robert F. Kennedy Jr.According to the Wall Street Journal, sources familiar with the matter revealed that the White House is tightening its control over the Department of Health and Human Services information dissemination and policy-making, including policies surrounding vaccines, in preparation for the midterm elections.March 14th - Today, the National Bureau of Statistics released data on price changes of key production materials in the circulation sector for the first ten days of March 2026. According to monitoring of market prices for 50 key production materials across nine categories nationwide, compared to the first ten days of February 2026, prices for 37 products increased, 10 decreased, and 3 remained unchanged.March 14th - According to foreign media reports, U.S. Interior Secretary Doug Bergham stated that the Trump administration had discussed curbing oil prices through trading in the oil futures market. However, Bergham said he was unclear whether the U.S. had actually intervened in the market. Bergham stated on Saturday, "I must say, there have been discussions. There are many smart people in this administration—and many smart people in the energy trading market. Trying to manipulate and lower prices through intervention requires a huge amount of money. Thats all I can say about that." The head of the company that regulates West Texas Intermediate crude oil futures trading warned that if the federal government were to begin trading derivatives to lower crude oil prices, it would be a "bible-level disaster."

Silver Price Analysis: XAG / USD hovers around $20.00 ahead of US NFP

Alina Haynes

Mar 10, 2023 11:25

 截屏2022-06-07 下午5.18.01.png

 

Silver price continues to trade sideways on Thursday, in the absence of a catalyst, prior to the release of crucial US economic data. The Mexican Peso (MXN) is depreciating as a result of investors' risk aversion ahead of the US Nonfarm Payrolls report for February. At the time of writing, the XAG / USD exchange rate was $20.05, an increase of 0.19%.

 

XAG / USD remained steady throughout the day, unable to break above or below the $19.98-$20.28 range. However, investors should be aware that Silver fell below the 200-day Exponential Moving Average (EMA) at $21.80, indicating a downward bias for the precious metal. Notably, the 50-day EMA is approaching the 200-day EMA, and once it crosses below the latter, a death cross would exacerbate a decline toward the $18.84 daily low from November 3.

 

But first, XAG / USD must surpass the YTD low of $19.92. A breach of the latter will expose the psychological level of $19.00, followed by the daily low on November 3 at $18.84.

 

In an alternative scenario, the first level of resistance for XAG / USD would be the daily high of $20.06. Once cleared, the next resistance level would be the daily low-turned resistance from February 28 at $20.43, followed by the daily low-turned resistance from November 28 at $20.87.


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