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Ukrainian President Volodymyr Zelensky said at a European summit in London that we felt strong support.On March 2, Russian Foreign Minister Lavrov said in an interview with Russian media that some European countries hope that the Russian-Ukrainian conflict will continue. The United States has clearly stated that it hopes to end the Russian-Ukrainian conflict, but some European countries want to "continue the feast" in the form of war. These countries are preventing peace. The United Kingdom also claimed that it will provide a large number of weapons to Ukraine this year. Regarding the idea that some European countries plan to send peacekeeping forces to Ukraine, Lavrov said that for Russia, the presence of European peacekeeping forces in Ukraine means that the root cause of the Ukrainian crisis will not disappear.Israeli police: A Beersheba resident was arrested on suspicion of having contact with Iranian intelligence agents with the intention of selling sensitive information, including claiming to have access to a nuclear research center.U.S. House Speaker Johnson: Hopes to pass a “clean” continuing resolution (CR) for fiscal year 2024 (until September).On March 2, Lei Jun, founder, chairman and CEO of Xiaomi, talked about the issue of SU7 Ultra in a live broadcast. He said that the pricing of SU7 Ultra is to match Tesla, and the closest one is the Model S Plaid version, but the performance of SU7 Ultra is much stronger and the configuration is much higher. Lei Jun said that at that time he asked if it could be sold at the same price as Tesla, and whether it would be 814,900 yuan. Later, he tested it and found that 3,680 people paid deposits in 10 minutes. He was very excited at the time. He concluded that 814,900 yuan is a price that consumers can accept, but the sales volume may be only a few thousand or ten thousand units. Lei Jun said that after further research, it was found that consumers expected the price to be 600,000 to 700,000 yuan, but if it was within 600,000 yuan, there would be a surprise. After consideration, it was decided to set the price of SU7 Ultra at just over 500,000 yuan.

Prediction for Silver Price: XAG/USD falls below $20.00 on risk aversion

Alina Haynes

Oct 11, 2022 14:22

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The silver price has fallen below the 100-day exponential moving average for four consecutive days due to a risk-off impulse triggered by the US central bank's forecasts for additional tightening, tensions emanating from the US-China chip embargo, and the aggravation of the Russia-Ukraine conflict. Therefore, traders seeking security kept the dollar in the lead. At the time of writing, the XAG/USD exchange rate is $19.59 per troy ounce, a decrease of 2.50%.

 

US markets ended the day in the red, extending their four-day losing streak. Monday's paucity of economic data releases in the United States forces market participants to rely on Federal Reserve speeches delivered by Vice-Chair Lael Brainard and Chicago Fed President Charles Evans.

 

Brainard stated that despite the fact that the US economy slowed "more than anticipated," many sectors continue to lag behind the effects of monetary policy. She stated that monetary policy must be tight for some time in order to ensure that inflation would return to the Fed's target level.

 

Previously, Charles Evans stated that the U.S. central bank may be able to lower inflation while avoiding a recession. He predicts that the Federal funds rate (FFR) will peak around 4.5% in early 2023 and remain elevated for an extended period of time.

 

The US Dollar Index increased by 0.35 percent to 113.145 as the situation between Russia and Ukraine escalated during the course of the day. In addition, the US embargo on semiconductors to China is anticipated to provoke reaction from one of the strongest economies in Asia.

 

Noting that the US bond market is closed is important, but there was no justification for the precious metals' poor start to the week. The yield on 10-year US bonds is currently 3.961%, whereas 10-year US Treasury Inflation-Protected Securities (TIPS) will open on Tuesday yielding 1.62 %.

 

Despite this, most traders anticipate the release of US inflation data on Thursday. On a monthly basis, expectations are 0.2% over the previous figure, while on an annual basis, they are 8.1% due to dropping energy prices. Regarding core inflation, which excludes food and energy, the MoM is anticipated to decline by 0.4%, less than August's, while the YoY is anticipated to increase by 6.5%, greater than August's 6.3% increase.

 

The XAG/USD fell below the 100-day exponential moving average at $19.95, extending its losses close to the 20-day EMA at $19.53. Notably, the Relative Strength Index (RSI) is approaching the 50-midline, which, if breached downwards, would indicate that sellers are gaining strength. Then, the XAG/initial USD's support would be the previously mentioned 20-day EMA, followed by the 50-day EMA at $19.40, which, once cleared, could pave the way for a retest of the daily low of $17.97 from September 28.


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