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The main Shanghai silver futures contract fell 2.00% during the day, currently trading at 16,478.00 yuan/kg.On June 18th, a recent report by an international organization claimed that the growth of Chinese companies global market share in some key sectors was mainly due to government subsidies. On the same day, Li Chao, Deputy Director of the Policy Research Office and spokesperson for the National Development and Reform Commission, responded at a press conference, stating that simply attributing Chinas industrial competitiveness to so-called "subsidies" is not only overly simplistic but also completely wrong. Chinas industrial competitiveness stems from the intensive development of its massive market, the efficient collaboration of its complete industrial system, the long-term accumulation of education, science and technology, and talent, and the continuous optimization of its business environment.On June 18th, Li Chao, Deputy Director of the Policy Research Office and Spokesperson of the National Development and Reform Commission, responded at a press conference that my country has made positive progress in computing-power synergy and computing-network integration in recent years. However, we also see that the synergy between computing networks and new power grids still faces some obstacles in planning, construction, and pricing mechanisms. The integration of computing networks with next-generation communication networks needs further strengthening, and breakthroughs are needed in computing power monitoring and scheduling technologies and mechanisms. During the 15th Five-Year Plan period, we will pay more attention to supply and demand matching and strengthen the coordinated planning and construction of computing networks with new power grids and next-generation communication networks. In terms of "hard investment," we will explore more effective computing-power synergy models to achieve a balance between electricity and computing power; strengthen computing-network integration and innovation; appropriately promote the expansion of direct connection lines between national hubs; and further reduce network transmission latency. In terms of "soft infrastructure," we will strengthen the monitoring and market-based scheduling of computing resources and accelerate the construction of a nationwide integrated computing network that is interconnected, accessible, green, and secure.On June 18, Li Chao, Deputy Director of the Policy Research Office and Spokesperson of the National Development and Reform Commission (NDRC), responded at a press conference that the NDRC will work with relevant departments to issue and implement the "15th Five-Year Plan" for modern logistics. This plan will coordinate various funding channels to support both the upgrading of existing logistics facilities and the construction of new facilities, promote the formation of a comprehensive logistics infrastructure network, enhance the adaptability and support of logistics facilities for industrial development, densify the urban and rural last-mile logistics network, accelerate the development of digital, intelligent, and green logistics facilities and equipment, and promote the improvement of the logistics network by addressing its shortcomings, ensuring smooth connectivity, and enhancing its capabilities. The goal is to achieve a systemic transformation from simply having a logistics network to having a high-quality one, and from merely having access to truly efficient and effective logistics. The objective is to establish by 2030 a logistics network that is closely integrated with industries and consumption, connects channels and networks both internally and externally, features green and intelligent facilities and equipment, and ensures comprehensive interconnection of rules and information, thereby better serving the high-quality development of the real economy.Japanese Chief Cabinet Secretary Minoru Kihara: We will continue to closely monitor the financial markets.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.