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On November 10th, it was reported that Grab, Southeast Asias largest ride-hailing service provider, is investing $60 million in remote-driving service company Vay to increase its bet on driverless car technology. In a joint statement on Monday, the two companies said that if Vay reaches certain milestones, the initial investment, pending regulatory approval, could increase to a total of $410 million within a year. The deal is expected to close in the fourth quarter. Vays service model lies between traditional human-driven taxis and fully autonomous vehicles. It allows users to order a car, which is then remotely operated and delivered to the customer by a remote operator. Once the vehicle arrives, the remote operator disconnects, and the customer takes over driving the vehicle to their desired destination. Grab is not the only ride-hailing platform preparing for a future where driverless travel is commonplace. Its US counterparts, Uber (UBER.N) and Lyft (LYFT.O), are similarly partnering with technology providers and fleet operators for global deployments.The German DAX index rose 2.00% on the day.Sources say Lukoil has terminated the positions of its non-Russian foreign employees at the West Khurna-2 oil field. Iraq has frozen crude oil and cash payments to Lukoil in an effort to find legal means to ensure the continued operation of the West Khurna-2 field.Iraqi official sources say Lukoil has declared force majeure on its West Kuna-2 project in Iraq. Lukoil warned Iraq that it may withdraw from the project if the force majeure situation continues.November 10th - Japanese Prime Minister Sanae Takaichi aims to revitalize the economy with her first stimulus package and launch a new growth strategy through investment. According to a document released after the first meeting of an expert panel responsible for developing a new economic growth strategy for Japan by next summer, the panel recommended that the prime minister utilize the package to launch an effort to build strong growth through "crisis management investment and growth investment." The expert panel stated that the government should focus its investment on 17 sectors that Takaichi considers crucial to Japans economic growth. These sectors include semiconductors and artificial intelligence, shipbuilding, the defense industry, and key minerals. Takaichi has signaled a shift towards a more expansionary fiscal policy, stating that Japan is only halfway there in achieving stable inflation supported by wage growth. This suggests she wants the Bank of Japan to remain cautious in its gradual interest rate hikes. She also emphasized her commitment to implementing a responsible yet expansionary fiscal policy.

Silver Price Analysis: XAG/USD flirts with the daily high but upside potential appears restricted

Daniel Rogers

Oct 17, 2022 14:43

 截屏2022-10-17 下午2.38.57.png

 

On the opening day of the new week, silver gains ground and moves away from a two-week low of $18.00, which was reached on Friday. The white metal maintains its bid tone heading into the European session and is currently flirting with the daily high in the zone between $18.50 and $18.45.

 

The XAG/USD appears to have ended a six-day losing run and halted its recent steep rejection decline from the 200-day exponential moving average, or its highest level since late June. The area between $18.90 and $19.00 should serve as a pivot point for intraday traders for any future upward movement.

 

Continued strength beyond may spark a short-covering rally and boost the XAG/USD back to the supply zone between $19.70 and $19.80. In the meantime, oscillators on the daily chart have just begun to move into negative territory. In addition, bearish technical signs on the 4-hour chart call for caution before positioning for additional gains.

 

However, sustained buying above the $20.00 psychological level will neutralize any near-term bearish view and pave the door for a further near-term uptrend. The XAG/USD could next ascend to the $20.50 intermediate resistance level en way to the $21.00 round number and the 200-day EMA, which is now located in the $21.15 area.

 

In contrast, the $18.00 level appears to have arisen as immediate strong support, which, if decisively breached, will be viewed as a new trigger for bearish traders. The subsequent key support is located at the yearly low, in the vicinity of the $17.55 region recorded in September, below which the XAG/USD might test the $17.00 round number.

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