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February 11th – At a regular press conference held by the State Council Taiwan Affairs Office on February 11th, spokesperson Zhu Fenglian stated in response to a reporters question that the DPP authorities are attempting to seek "independence" by relying on foreign powers, and are unprincipledly fawning over foreign countries and selling out Taiwan without any bottom line in the so-called Taiwan-US trade negotiations. If the relevant reports are true, Taiwans traditional industries will be severely impacted, and the food safety of the people will be completely unprotected. The DPP authorities are allowing the United States to take whatever it wants, sacrificing the prospects for Taiwans industrial development and harming the interests and well-being of the Taiwanese people, and will inevitably be rejected by the Taiwanese people.According to Punchbowl: The U.S. House of Representatives rejected a rule designed to prevent lawmakers from challenging Trumps tariff resolution.February 11th - According to foreign media reports, Song Jae-hyuk, President and Chief Technology Officer of Samsung Electronics chip business, stated on Wednesday that Samsung Electronics has returned to the top of the memory industry thanks to its next-generation HBM4 technology, a statement that reversed the companys stock price decline. Song made this unusually firm statement at SemiconKorea in Seoul. Previously, a Samsung executive publicly supported the "Samsung comeback" in January, further reinforcing market expectations that Samsungs next-generation HBM technology would be adopted by AI chip leader Nvidia. Samsung plans to begin mass production of HBM4 this month, with Nvidia expected to be its first customer.On February 11, the State Administration for Market Regulation (SAMR) issued a centralized notification to designated CCC certification bodies and laboratories regarding the results of the 2025 "random inspection and public disclosure" of designated CCC certification implementation bodies. The inspection uncovered 472 issues involving 51 institutions. Major issues included reduced or omitted certification procedures, insufficient testing and factory inspection conclusions to support certification decisions, lax oversight of key technical information in certification assessment, failure to convert certificates according to regulations, inadequate testing capabilities, and insufficient standardization in daily testing processes and management. The SAMR has already issued decisions to revoke or suspend some of the designated qualifications of the aforementioned institutions, imposed economic penalties, issued administrative warnings, and ordered them to rectify the issues within a specified period. All designated CCC certification bodies and laboratories are required to firmly establish a risk awareness, strictly implement their primary responsibilities, and effectively improve their professional capabilities to prevent various potential risks in CCC certification through full-chain supervision.On February 11th, according to Futures News, the overnight SHIBOR was 1.3660%, up 0.40 basis points; the 7-day SHIBOR was 1.5230%, down 0.80 basis points; the 14-day SHIBOR was 1.6000%, down 0.40 basis points; the 1-month SHIBOR was 1.5511%, up 0.01 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.

Silver Prices Face Downward Pressure Due to the Prospects of a Hawkish Fed and Uncertainty Regarding China's Lockdown

Drake Hampton

Apr 26, 2022 10:28

Silver prices have fallen as a result of the broader commodity sell-off. The dollar gained strength versus all major currencies as prospects for Fed tightening increased. Benchmark rates fell substantially today, following a spike at the end of last week in response to fears over China's covid shutdowns.

 

Gold prices fell to April lows around $1900 on forecasts of rate increases and a strong dollar. Oil prices fell as demand concerns arose as a result of China's Covid crisis.

 

Oil prices also fell as a result of a strong dollar, which makes commodities more expensive for holders of foreign currencies. Due to the Russian supply problem and Libyan supply disruptions, the oil market experienced tight supply conditions.

 

Bullard, president of the St. Louis Federal Reserve, suggested that a 75-basis-point rate hike may be necessary to tackle runaway inflation. While some policymakers have suggested that a greater rate hike would be detrimental to the economy, market participants have approved it.

 

Investors remain focused on Friday's release of the March Personal Consumption Expenditures Index, a key inflation indicator. Jerome Powell, chairman of the Federal Reserve, suggested that a 50-basis-point rate hike was expected in May.

Technical Evaluation

Silver prices fell 2.5 percent Thursday, below the 200-day moving average's major resistance level of 23.85. Silver prices will continue to decline as a result of the prospect of a 50-basis-point rate hike and may hit the December 2021 lows near the 21.4 level. Silver prices are harmed by hawkish Fed tightening.

 

Support is located near the $22.776 200-day moving average. Resistance is located near the $24.92 50-day moving average. Short-term momentum is negative but is turning positive following a crossover of the fast stochastic, which may indicate a crossover sell signal.

 

The medium-term momentum has shifted to the downside, as evidenced by the histogram's negative correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is negative, indicating a downward trend in price movement.

 

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