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On March 11, China Resources Beverages (02460.HK) announced that, based on a preliminary assessment of the Group’s unaudited consolidated management accounts and other available information for the year ended December 31, 2025, the profit attributable to owners of the Company for the year ended December 31, 2025, is expected to decrease by approximately 40% compared to the same period in 2024 (2024: RMB 1,636,694 thousand).Q Technology (01478.HK): Sales volume of mobile phone camera modules increased by 40.2% year-on-year in February, and sales volume of camera modules increased by 40.3% year-on-year in February.The yield on German two-year government bonds rose 7 basis points to 2.342% as money market bets increased on a rate hike by the European Central Bank; the probability of a rate hike in July is 80%, and a rate hike in September is fully priced in.Two sources say the International Energy Agency (IEA) will recommend using its strategic petroleum reserves, given the potential disruption to oil supplies due to the situation in Iran. The initial release from the IEAs strategic petroleum reserves will exceed 100 million barrels in the first month.On March 11, Barclays Bank predicted that if oil prices remain around $100 per barrel and economic growth remains stagnant, the earnings per share (EPS) growth rate for European companies is likely to fall to a low single digit, and the Stoxx Europe 600 index will drop to around 550 points. Historically, during periods of stagflation, the energy, utilities, and healthcare sectors have outperformed, while the financial, telecommunications, and consumer sectors have tended to lag. In a report, the bank stated that although the energy intensity of the economy has decreased over time, economic growth still faces risks because Europes dependence on Middle Eastern energy supplies is as high as 30%.

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.


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