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Iranian Parliament Speaker Ghalibaf: The world is standing at the beginning of a new order. The future belongs to the Global South.Iran will reopen its stock market on Tuesday, May 17, according to a report by the Islamic Republic News Agency (IRNA) on Saturday, citing a senior official. The report stated that trading had been suspended due to conflicts with the United States and Israel. Hamid Yari, deputy supervisor of the Iranian Securities and Exchange Organization, said, "The suspension of stock market activities since the outbreak of the war was aimed at protecting shareholder assets, preventing panic trading, and creating a more transparent pricing environment." He added, "Now, with the reopening of the stock market, we will see all sectors of the capital market fully resume operation."On May 17th, according to the Financial Times, two Federal Reserve officials nominated by US President Trump opposed allowing Jerome Powell to serve as interim chairman of the Fed "without time limit." This highlights the escalating political divisions within the central bank amid continued attacks from the White House. Powells second term as Fed chairman ended on Friday. He was appointed interim chairman to assume the duties until his official successor, Warsh, takes office. Milan and Bowman, nominated by Trump to the Feds board of governors, stated in a joint statement that they supported Powells temporary appointment as interim chairman, but "could not support this action" because the arrangement was "without time limit." Milan voted against it, while Bowman abstained. Milan and Bowman stated that Powells interim chairmanship "should be limited to a clearly defined and finite timeframe, at least one week," but they "can support a maximum period of one month."On May 17, the Africa Centres for Disease Control and Prevention (Africa CDC) convened an emergency regional coordination meeting on May 16, local time, to discuss and deploy a new round of Ebola prevention and control efforts with relevant personnel from the Democratic Republic of Congo, Uganda, South Sudan, the World Health Organization, and the African Medical Association. The meeting focused on current priorities, including cross-border surveillance and early warning management, infection prevention and control, case management, close contact management, logistical support, and resource mobilization.On May 17, US President Trump warned Iran that it would face a "very bad situation" if a peace agreement was not reached soon. In a telephone interview with French broadcaster BFMTV, Trump said, "They are interested in reaching an agreement." Iranian Foreign Minister Araqchi said on Friday that the Iranian government had received a message from the Trump administration indicating its willingness to engage in new negotiations, but he also warned that "distrust" of Washingtons true intentions remained.

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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