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According to the Islamic Republic News Agency (IRNA), Iranian President Pezehiziyan told French President Macron that diplomacy is the preferred way to resolve disputes.On April 14, the Ministry of Commerce and the Export-Import Bank of China jointly issued the "Notice on Strengthening Import and Export Credit Support for a Good Start to the High-Quality Development of Commerce during the 15th Five-Year Plan Period." The Notice closely follows the key tasks of commerce work in 2026, further leveraging the role of policy-oriented financial institutions, and proposes three specific measures. First, promoting innovative trade development. Focusing on exploring diversified markets, cultivating new drivers of foreign trade, and promoting balanced import and export development, the Notice calls for making full use of import and export credit tools, enriching and improving products and services adapted to new business formats and models, and ensuring comprehensive import service guarantees. Second, expanding the space for two-way investment and cooperation. The Notice proposes detailed measures in three aspects: attracting and utilizing foreign investment with greater力度, promoting international cooperation in industrial and supply chains, and supporting the construction of high-level open platforms. It supports the Export-Import Bank of China in deeply integrating into and serving the expansion of high-level opening-up, and providing comprehensive financial services. Third, promoting the high-quality development of the Belt and Road Initiative. The Notice supports the Export-Import Bank of China in focusing on key areas of multilateral and bilateral economic and trade cooperation under the Belt and Road Initiative, coordinating financial services for major landmark projects and "small but beautiful" livelihood projects, promoting the cross-border use of RMB, and strengthening investment and financing service guarantees.According to the Islamic Republic News Agency (IRNA), Iranian President Pezechzian told French President Macron that threats, pressure, and military action will only exacerbate the "self-inflicted trouble" of the United States in the region.According to the Islamic Republic News Agency (IRNA), Iranian President Pezehiziyan told French President Macron that Europe could play a constructive role in urging the United States to abide by international law.According to the Islamic Republic News Agency (IRNA), Iranian President Pezechzian told French President Macron that the United States lack of sincerity and extreme stance led to the failure of the Islamabad talks to reach an agreement.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.