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September 14th news: From September 7th to September 13th, the national logistics operation data is as follows: National railways transported 82.651 million tons of freight, a 6.1% increase compared to the previous period; 58.467 million trucks passed through national expressways, a 2.98% increase compared to the previous period; monitored ports handled 270.168 million tons of cargo, a 0.27% decrease compared to the previous period, and 7.15 million TEUs of containers, a 2.57% increase compared to the previous period; civil aviation handled 122,000 flights (including 5,193 cargo flights, comprising 3,170 international cargo flights and 2,023 domestic cargo flights), a 1.33% decrease compared to the previous period; postal and express delivery collection volume was approximately 4.065 billion pieces, a 0.47% decrease compared to the previous period; delivery volume was approximately 4.068 billion pieces, a 0.51% decrease compared to the previous period.On September 14th, the International Electrotechnical Commission (IEC) released the international standard "Distributed Multi-Energy Systems Part 1: General Principles," led by my country. This standard, drafted by a working group convened by Chinese experts and jointly developed with experts from 10 countries including Switzerland, France, and South Korea, represents another significant achievement for my country in the internationalization of smart energy standards. This international standard systematically defines the connotation and typical architecture of distributed multi-energy systems for the first time, clarifies the standardization development path in the future field of multi-energy integration, and includes typical global engineering application cases, providing a unified reference for the construction of integrated energy projects worldwide.The onshore yuan closed at 6.7071 against the US dollar at 16:30 on September 14, up 25 points from the previous trading day.The Indonesian president has appointed Suhar Nazarra as the new finance minister.According to Metro TV, the Indonesian president will appoint Deputy Finance Minister Suahsir Nazara as the new Finance Minister.

Silver Price Prediction: XAG/USD falls below the 200-day moving average after US Retail Sales

Alina Haynes

Feb 16, 2023 14:48

截屏2022-08-04 下午5.12.51_1024x576.png 

 

Silver price dropped for the second consecutive day, leaving the 200-day Exponential Moving Average (EMA) at $21.93 in the rearview mirror, as the Commerce Department reported that Retail Sales increased. The statistics supported a resurgence of the US Dollar (USD), putting downward pressure on Silver.

 

At the time of writing, the XAG/USD is trading at $21.50, having reached a peak of $21.87.

 

The XAG/USD exchange rate continues to decline, driven down by the strength of the US dollar, which, supported by rising US Treasury bond yields, advances 0.64 percent to 103.93 on the US Dollar Index. The 10-year US Treasury bond yield has increased by three and a half basis points to 3.772%, which is negative for the non-yielding metal.

 

After two consecutive months of decline, January retail sales in the United States increased by an astounding 3.0% month-over-month versus expectations of 1.8%. The majority of the increase in sales can be linked to a tight labor market, which continues to create robust pay growth, while rising fuel prices may have contributed to a rise in revenues at service stations.

 

Recent Industrial Production (IP) in the United States remained constant, as reported by the US Federal Reserve (Fed), but output was weaker than anticipated due to increasing borrowing rates in the manufacturing industry.

 

The US Federal Reserve may continue to tighten monetary conditions, with markets anticipating two additional 25-bps rate hikes, which would push the Federal Funds Rate (FFR) to the range of 5.00% to 5.250%.

 

A spate of Fed members remarked on Tuesday that the Fed is not done raising interest rates and echoed Fed Chair Powell's statement that rates will remain "higher for longer."

 

Consequently, Silver prices will stay under pressure, as a robust US Dollar will continue to harm the white metal. Silver could experience a rise once the Federal Reserve halts its tightening cycle, as it is expected to do so until 2024. Nonetheless, a hawkish Fed would boost the US Dollar's short-term prospects, which would impact on Silver.

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