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June 15th - Zhipu (02513.HK) announced the launch of its latest flagship model, GLM-5.2. This model offers a long context of up to 1MB and continues to lead in long-duration tasks. It will be open-sourced under the MIT license. This model is expected to boost the call volume of the companys open platform and API services. As of the date of this announcement, the company is not aware of any information that needs to be disclosed to avoid a false market in the companys securities, or any inside information that needs to be disclosed under the Listing Rules. Shareholders and potential investors are advised to exercise caution when dealing in the companys securities.Japans tertiary sector activity index rose 1.3% month-on-month in April, compared with a previous reading of -0.20%.June 15th - According to the National Railway Administration, from January to May 2026, the national railway passenger and freight volumes remained high, railway construction progressed steadily, effectively playing a radiating and driving role and injecting new momentum into regional economic and social development. In terms of passenger transport, from January to May, the national railway system completed a total of 1.969 billion passenger trips, a year-on-year increase of 5.7%; and completed 697.739 billion passenger-kilometers, a year-on-year increase of 4.2%. In May, the railway system completed 414 million passenger trips, a year-on-year increase of 1.9%; and completed 140.387 billion passenger-kilometers, a year-on-year increase of 2.2%. Regarding fixed asset investment, from January to May, the national railway system completed 248.5 billion yuan in fixed asset investment, a year-on-year increase of 2.6%, and railway construction progressed steadily.June 15th - The Bank of England will hold its interest rate decision on Thursday. The meeting is expected to see a majority vote to keep rates unchanged, but it is anticipated to reflect the Monetary Policy Committees growing concerns about the inflation risks posed by the prolonged energy crisis. Following calls from senior officials, including Governor Bailey and Deputy Governor Briden, for caution before addressing rising inflation risks, the market widely expects the bank to keep the key interest rate unchanged at 3.75%. "The momentum in the labor market has cooled significantly," said Hetal Mehta, an economist at St Jamess Place. "I dont think theres enough impetus for a rate hike at the moment." However, at least two rate setters—Chief Economist Peale and Monetary Policy Committee member Green—have hinted at calling for an immediate rate hike. Another Monetary Policy Committee member, Mann, stated that if the energy crisis worsens, a rate increase at some point cannot be ruled out.June 15th - HSBC and Hang Seng Banks applications experienced technical glitches this morning, according to reports. HSBCs platform indicated that services were temporarily affected due to a technical glitch. Hang Sengs platform indicated that its application or online banking services might experience slow response times or intermittent interruptions. An HSBC spokesperson stated that some customers were unable to use certain banking services normally this morning, and the company was working diligently to restore normal operations as soon as possible. Hang Seng stated that some banking services were temporarily affected due to technical reasons, and relevant departments were working to resolve the issue.

Silver Price Analysis: XAG / USD reverses from a six-week-old resistance level toward $22.00

Daniel Rogers

Mar 20, 2023 13:19

 截屏2022-06-06 下午5.54.42.png

 

As the Fed week gets underway, the silver price (XAG / USD) accepts offers to renew intraday lows near $22.40, reversing from the greatest levels since early February.

 

In doing so, the brilliant metal reverses from the horizontal area consisting of multiple peaks marked since February 3 at approximately $22.60.

 

Notably, the overbought conditions of the RSI (14) aid the XAG/USD in trimming recent gains near the multi-day high.

 

However, optimistic Silver purchasers are buoyed by bullish MACD signals and the metal's sustained trading above critical support levels.

 

A one-week-old ascending trend line near $21.90 and the 200-bar Exponential Moving Average (EMA) near $21.65 provide immediate crucial support.

 

The early-month swing high near $21.30 and the $21.00 round figure can act as additional downside filters for XAG/USD bears before targeting the monthly low of $19.90.

 

In the meantime, the Silver price rise above the aforementioned resistance line near $22.60 requires confirmation from the 61.8% Fibonacci retracement level of the metal's February-March decline, which is located close to $22.85.

 

After that, a rise to the Year-To-Date (YTD) high around $24.65 cannot be ruled out.

 

Silver prices are expected to decline overall, but the bears have a long way to go before regaining control.