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Asian stocks swung on Wednesday, with safe-haven gold hovering near record highs as the world nervously awaited details of Trumps tariff plan and investors worried about the risk of an intensifying global trade war. "We find that our trading environment is volatile, with price swings in the market driven by market participants adjusting their risk exposure on the margins and unwilling to make commitments," said Chris Weston, head of research at Pepperstone. "Trump called April 2 Liberation Day, but investors are unlikely to be truly free from the uncertainty of tariffs," said Vasu Menon, managing director of investment strategy at OCBC Bank in Singapore. "If other countries retaliate, Trump could raise the stakes -- a possibility that could continue to make investors nervous."On April 2, Jiang Ping, Director of the Inclusive Finance Department of the Financial Supervision Administration, said at a press conference held by the State Council Information Office on April 2 that the Financial Supervision Administration will promote the deep integration of the construction of the social credit system and financial supervision, actively participate in the construction of the social credit system, and guide financial institutions to make good use of the results of the construction of the social credit system. The Financial Supervision Administration will focus on solving the problem of information asymmetry between banks and enterprises, and guide financial institutions to query and use corporate credit information on the premise of compliance with laws and regulations and full authorization, and organically combine it with financial information, and widely use it in product development, credit approval, and post-loan management, so as to improve the quality and efficiency of financial services for the real economy.On April 2, JD.com issued a salary increase notice that Dada employees salaries will be upgraded to 19 salaries this year and to 20 salaries next year; in addition, some outstanding Dada employees will be awarded JD.com Group stocks.On April 2, CICC published a research report stating that due to the decline in coal prices, Yankuang Energy (01171.HK)s net profit fell 27% year-on-year last year, and its performance was roughly in line with the banks expectations. The bank expects the groups H-share earnings per share to be 9.2 billion and 11 billion yuan this year and next year, respectively. Although the decline in coal prices may drag down Yankuang Energys profits in the short term, in the long run, the group has huge growth potential and is optimistic about its profit growth. The bank maintains the groups outperform rating. Due to the slowdown in supply and demand and the decline in short-term profits, the H-share target price was lowered by 38% to HK$10, equivalent to a forecast price-to-earnings ratio of 10.3 times and 8.4 times this year and next year, respectively.Hong Kong-listed UBTECH Robotics (09880.HK) once rose by more than 7% during the session, but the increase has now narrowed to 5%.

Silver Prices Rally on the Back of Hot Inflation Data and Uncertainty in Ukraine

Larissa Barlow

Apr 13, 2022 10:18

Tips 

  • Silver prices continue their upward trajectory as a hedge against inflation.

  • Benchmark yields fell as investors rallied in anticipation of a possible inflation peak.

  • Oil prices increased when China's shutdown restrictions were eased.

 

Silver prices increased for the fifth straight day on the back of stronger-than-expected inflation statistics. Benchmark yields fell following the announcement of the fresh data. The market has priced in hawkish Fed policies, restricting the dollar's gains.

 

March's CPI increased by 8.5 percent year over year, the largest yearly increase since 1981. The figure was slightly higher than the Dow Jones forecast of 8.4%. Core inflation, on the other hand, increased 6.5 percent year over year, excluding food and energy. Core PCI increased by 0.3 percent, less than the forecasted 0.5 percent increase.

 

Despite this, actual wages continue to fall behind the cost of living. This could exacerbate inflationary pressures. The report is essential in determining how aggressively the Fed will raise interest rates and end its bond-buying program.

Technical Evaluation

Silver prices rose 1.2 percent Monday, confirming the precious metal's ascent. Silver prices are under pressure to fall as the US dollar and rates rise. Near $24.76 is a level of support. Resistance is located near the March 24th high, at approximately $25.845. A break to the upside would take us to the $26.00 level.

 

The short-term momentum is bullish, as the fast stochastic generated a buy signal upon crossover.

 

As the histogram prints positively with the MACD, the medium-term momentum turns positive (moving average convergence divergence). The MACD histogram's trajectory is positive, indicating an upward trend in price movement.


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