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According to the Financial Times, Alibaba has appointed Zhou Jingren to lead its artificial intelligence division.The yield on five-year Japanese government bonds rose 2.5 basis points to 1.850%.On April 10th, it was reported that AliExpress, Alibabas cross-border e-commerce platform, is preparing to hold a closed-door brand summit in Shenzhen on April 15th. The summit is strictly by invitation only to leading brands, and open registration is not accepted. 99 brands, including Xiaomi and Dreame, have been invited, and invitations have been disbursed. It is understood that half of the speakers are from overseas, and the combined overseas sales of the attending brands exceed one trillion yuan.On April 10th, reports surfaced that Amazon would begin a new round of layoffs in May, with an estimated 14,000 jobs affected, primarily in core business units including AWS, retail, and human resources. Some teams in China were even rumored to be completely eliminated. On April 10th, Amazon stated that these reports were untrue.On April 10th, Bank of America Securities issued a report stating that Innoscience (02577.HK) management indicated in the analyst briefing following the 2025 fiscal year results that downstream demand is expected to be strong in 2026 due to the increasing penetration rate of gallium nitride (GaN) in various end markets. Management projects total revenue for fiscal year 2026 to reach RMB 2 billion to 2.5 billion, representing year-on-year growth of 65% to 106%, with gross margin potentially further improving to over 15%. The bank reiterated its buy rating on Innoscience, but lowered its target price from HKD 108 to HKD 92. Bank of America stated that due to a more conservative gross margin forecast, it lowered its adjusted net profit forecasts for Innoscience for 2026 and 2027, but raised its revenue forecasts by 3% to 4% for the same period.

Price Prediction for Silver - Breakout Attempt Fails

Daniel Rogers

Jun 06, 2022 15:28

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The price of silver attempted to break out, but encountered selling resistance. The decline in gold prices weighed on the broader precious metals market. Stronger-than-anticipated employment figures boosted the dollar. Since precious metals are valued in dollars, a stronger dollar is often unfavorable to silver.

 

Following stronger-than-expected employment figures, benchmark yields increased. The positive employment data contradicted Thursday's ADP private payroll estimate, which was worse than anticipated.

 

The nonfarm payrolls increased by 390K while the unemployment rate increased to 3.6%. Approximately 328K jobs were predicted to be added to the labour market. The unemployment rate was anticipated to fall to 3.5 percent. The average hourly wage has grown by 0.3%. It was anticipated that average hourly salaries would increase by 0.4%. This situation may indicate a moderation in wage inflation. The year-over-year rise in salaries was 5.2%.

Technical Evaluation

The price of silver sought to climb higher but was unable to do so. Near the 10-day moving average of 21.99 is viewed as support. At the 50-day moving average of 23.26, there is observed to be resistance.

 

The 50-day moving average continues below the 200-day moving average, representing a headwind for XAG/USD and indicating negative trend. Silver will likely reach the level of 20.4.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The MACD histogram is moving in negative area, indicating a downward trend in price movement.


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