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Zhipu (02513.HK) fell by more than 10%, with its share price dropping to HK$2,090.On June 26, the State Taxation Administration issued an interpretation of the "Announcement of the State Taxation Administration on Relevant Matters Concerning the Administration of Individual Income Tax." Regarding whether there have been any adjustments to the individual income tax policy supporting residents home replacement purchases, the State Taxation Administration stated that, according to the "Announcement of the Ministry of Finance, the State Taxation Administration, and the Ministry of Housing and Urban-Rural Development on Continuing the Implementation of Relevant Individual Income Tax Policies Supporting Residents Home Replacement Purchases" (Announcement No. 3 of 2026), the relevant individual income tax policy supporting residents home replacement purchases will continue to be implemented until December 31, 2027. Specific regulations and filing procedures also remain the same as before. Eligible taxpayers should refer to the provisions of the "Announcement of the State Taxation Administration on Relevant Matters Concerning the Administration of Individual Income Tax Policies Supporting Residents Home Replacement Purchases" (Announcement No. 21 of 2022) for processing.Both WTI and Brent crude oil prices fell by more than 1% during the day, currently trading at $70.61 per barrel and $74.34 per barrel respectively.On June 26, 2026, Pan Gongsheng, Governor of the Peoples Bank of China, met with Jan Vera, Chairman and CEO of Citigroup. The two sides exchanged views on the global economic and financial situation, Chinas macroeconomic policies, and China-US economic and trade relations.June 26 - European and American stock index futures continued to decline, with Nasdaq 100 futures falling by 1.6%, S&P 500 futures down 0.7%, and Dow Jones futures down 0.18%; Euro Stoxx 50 futures fell 0.9%, German DAX futures fell 1%, and UK FTSE futures fell 0.8%.

XAG/USD approaches $24.00 as USD Index declines ahead of US PCE Price Index | Silver Price Analysis

Daniel Rogers

Mar 31, 2023 11:47

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During the early Asian session, the silver price (XAG / USD) is advancing rapidly towards the $24.00 round-level resistance. The precious metal has recorded a three-day winning stretch and is anticipated to maintain its upward trajectory due to the US Dollar Index's weakness. (DXY).

 

Despite decreasing concerns about a possible U.S. banking crisis, the price of silver is on an upward trend. Previously, investors supported bullion as a secure refuge to avoid volatility caused by the failure of three mid-tier US banks.

 

Despite the likelihood of additional rate hikes by the Federal Reserve, the USD index struggles to gain ground. (Fed). As US banking fears subside, one school of thought holds that Fed chair Jerome Powell may decide to raise interest rates further. In addition, Fed Chairman Powell anticipates one more rate hike in 2023. And that a rate raise at the Fed's May meeting would allow it to maintain higher rates for an extended period of time.

 

In the meantime, S&P500 futures have added to their gains in the Asian session following a positive close on Thursday, indicating an increase in market participants' risk tolerance.

 

The Fed's preferred inflation indicator, the US core Personal Consumption Expenditures (PCE) Price Index data, will remain in the spotlight moving forward. Analysts at Credit Suisse anticipate that the monthly reading will be rounded down to 0.3%, leaving year-over-year core inflation at 4.7%. Monthly headline inflation should be comparable to core inflation, but the year-over-year measure should fall to 5.1% due to the ease base effect.


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