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A survey released by the Japanese government on Monday, August 31, revealed that a severe labor shortage remains the primary reason Japanese companies are hiring foreign workers. This highlights the Japanese economys reliance on overseas labor, even as Prime Minister Sanae Takaichi seeks to tighten regulations targeting non-Japanese residents. A multi-option survey conducted by the Ministry of Health, Labour and Welfare showed that 68.2% of companies cited alleviating labor shortages as the reason for hiring foreigners. This reason has remained the top choice every year since the survey began in 2023. Approximately 56% of companies stated that they recruit based on the abilities and qualifications of foreign workers; 18% indicated they hoped to promote workplace internationalization. With Japans declining population and aging workforce, companies are increasing their recruitment of foreign workers to fill labor gaps, leading to a significant increase in the number of foreign workers. A report released this month by Teikoku Databank showed that more than half of companies reported a shortage of full-time employees. The survey also revealed that nearly 30% of companies reported an insufficient number of non-regular employees.Japans construction orders fell 13.4% year-on-year in July, compared with 2.3% in the previous month.Japans housing starts rose 8.19% year-on-year in July, below the expected 7.8% and the previous months 18.60%.August 31 - According to data released by Nepals National Disaster Risk Reduction Authority, as of 9:00 a.m. local time on August 31, the death toll from the landslide disaster in Nepal has risen to 903, with 4,247 people still missing.On August 31st, to further deepen the reform of medical insurance payment methods, promote the dynamic adjustment of the disease-based payment grouping scheme, and continuously optimize supporting mechanisms such as special case negotiation, the National Healthcare Security Administration organized two special symposiums on the disease-based payment special case negotiation mechanism on the afternoon of August 25th. In conjunction with the upcoming release of the disease-based payment 3.0 grouping scheme, the symposiums sought opinions and suggestions from local healthcare security departments and medical institutions on improving the special case negotiation mechanism. Participants offered suggestions on strengthening management, optimizing processes, and improving efficiency, and generally agreed that the special case negotiation mechanism has played a positive role in alleviating medical institutions concerns about admitting difficult and critically ill patients and supporting the application of new clinical drugs, consumables, and technologies.

XAG/USD maintains its position above the 100-day simple moving average (SMA) near mid-$19.00

Daniel Rogers

Nov 02, 2022 17:42

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Silver struggles to gather traction on Wednesday and trades inside a limited range above mid-$19.00 through the early European session.

 

Technically, the overnight retracement decline from the $20.00 psychological level pauses at the 100-day simple moving average. This support coincides with the 50% Fibonacci retracement level of the current decline from the monthly swing high in October and should serve as a pivot point for XAG/USD.

 

Given the overnight breach of the aforementioned confluence barrier, the technical setup appears to favor bullish traders significantly. In addition, oscillators on the daily chart have just begun to move into positive territory, supporting the likelihood of a further appreciation. Thus, a new endeavor to achieve the $20.00 round number, which also marks the 61.8% Fibo. level, this appears to be a distinct possibility. Some follow-through buying has the potential to propel the XAG/USD higher towards an intermediate resistance level near $20.50 en route to $21.00.

 

In contrast, losses below the mid-$19.00s (100 DMA) may continue to attract buyers near the $19.00-$18.90 support zone, marking the 23.6% Fibonacci retracement level. level. A convincing breach below the latter will alter the short-term bias towards bearish traders and make the XAG/USD susceptible. The ensuing downward trend may therefore take the XAG/USD to the subsequent key support in the vicinity of $18.30 to $18.25. This is closely followed by the $18.00 round-figure mark, below which spot prices could attempt to test the yearly low, which was reached in September in the $17.55 region.