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September 1st - Despite accusations that Chancellor of the Exchequer John Healy has reneged on his previous commitment to achieving this target, the British military still expects him to pledge 3% of GDP for defense spending by 2030. Sources revealed that the Treasury informed senior military officials weeks ago that it could not announce this target in the October 28th budget, and the decision would be postponed until the multi-year public spending review in 2027. However, the sources indicated that after discussions with Healy, they expect the 3% GDP target for defense spending by 2030 to be announced at that time. Defense spending currently accounts for 2.6% of GDP; increasing it to 3% would require an additional £15 billion annually from the Office for Budget Responsibility, equivalent to raising the basic income tax rate by approximately 2 percentage points. It remains unclear how this additional expenditure will be financed.Market news: The British military expects Chancellor of the Exchequer Healy to increase defense spending to 3% of GDP by 2030.According to TASS: U.S. Middle East envoy Witkov and Trump senior advisor Kushner are stepping up their mediation efforts in Ukraine.On September 1st, Israeli Defense Minister Katz stated that a senior Hamas member was recently arrested in Gaza City. Katz said Israel will continue its pursuit of Hamas members and the destruction of the organizations infrastructure. Israel will not withdraw its troops from Gaza until the Gaza Strip is demilitarized and Hamas disarms. Katz did not provide further details. According to Israeli sources, a Palestinian militia supported by Israel, with the support of the Israeli Air Force, launched a raid on Gaza City that day. Palestinian sources also reported that Israeli airstrikes on Gaza City that day resulted in the deaths of three people, including a woman and a child, and injuries to several others.On September 1st, Japanese Prime Minister Sanae Takaichi responded to the question of long-term interest rates exceeding 3% for the first time in 30 years, stating that economic and fiscal operations "must, of course, be based on an assessment and analysis of various economic conditions, including interest rate trends, and appropriate judgments should be made in a timely manner." Regarding interest rate trends, she only stated, "Making specific comments could have unexpected effects, so I will not comment on that." She explained that interest rate levels are determined by the market, influenced by various factors including the policies of other countries. When asked how to ensure market confidence, she emphasized, "We will appropriately address necessary fiscal needs and effectively achieve a balance between a strong economy and fiscal sustainability." She stated that budget preparation reform will be vigorously promoted in accordance with the "Basic Policy for Economic and Fiscal Operation and Reform" ("Bone and Fiscal Policy") established in July. She called for recurring policy measures to be arranged through an initial budget, rather than relying on large-scale supplementary budgets.

The silver market remains vulnerable, according to the silver price forecast

Daniel Rogers

Aug 05, 2022 15:11

 截屏2022-08-04 下午5.12.51_1024x576.png

 

The 50 Day EMA proved to be a little difficult to climb above despite the early-session rally in silver prices, which was pretty considerable. The $20.50 level is also a concern, so there is a significant degree of resistance in all of this. I believe that we now have a number of issues to resolve, not the least of which will be the release of the non-farm payroll figures during the Friday session.

 

I believe that the silver market will begin to decline pretty quickly if we go below the bottom of the Wednesday session. In that case, it is probable that the Federal Reserve will make the final decision about what should take place. The bond markets and rates will continue to alarm traders, and this will have a significant impact on their behavior with precious metals. In the end, this market is susceptible to greater yields and, naturally, a stronger US currency. That may very well be the case if the jobs figure is hotter than expected.

 

On the other hand, it's feasible that we may witness a significantly greater rise if the market were to break over the $20.50 threshold. The 200 Day EMA, which is now just below the $22.50 level, as well as the $22 level are likely to come into play if that were to happen. In either case, I believe we are going to witness a shocking action. Having said that, bear in mind that we have been in a decline for some time, making it seem like the simpler course to follow.

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