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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

Silver Price Prediction: XAG/USD falls below the 200-day moving average after US Retail Sales

Alina Haynes

Feb 16, 2023 14:48

截屏2022-08-04 下午5.12.51_1024x576.png 

 

Silver price dropped for the second consecutive day, leaving the 200-day Exponential Moving Average (EMA) at $21.93 in the rearview mirror, as the Commerce Department reported that Retail Sales increased. The statistics supported a resurgence of the US Dollar (USD), putting downward pressure on Silver.

 

At the time of writing, the XAG/USD is trading at $21.50, having reached a peak of $21.87.

 

The XAG/USD exchange rate continues to decline, driven down by the strength of the US dollar, which, supported by rising US Treasury bond yields, advances 0.64 percent to 103.93 on the US Dollar Index. The 10-year US Treasury bond yield has increased by three and a half basis points to 3.772%, which is negative for the non-yielding metal.

 

After two consecutive months of decline, January retail sales in the United States increased by an astounding 3.0% month-over-month versus expectations of 1.8%. The majority of the increase in sales can be linked to a tight labor market, which continues to create robust pay growth, while rising fuel prices may have contributed to a rise in revenues at service stations.

 

Recent Industrial Production (IP) in the United States remained constant, as reported by the US Federal Reserve (Fed), but output was weaker than anticipated due to increasing borrowing rates in the manufacturing industry.

 

The US Federal Reserve may continue to tighten monetary conditions, with markets anticipating two additional 25-bps rate hikes, which would push the Federal Funds Rate (FFR) to the range of 5.00% to 5.250%.

 

A spate of Fed members remarked on Tuesday that the Fed is not done raising interest rates and echoed Fed Chair Powell's statement that rates will remain "higher for longer."

 

Consequently, Silver prices will stay under pressure, as a robust US Dollar will continue to harm the white metal. Silver could experience a rise once the Federal Reserve halts its tightening cycle, as it is expected to do so until 2024. Nonetheless, a hawkish Fed would boost the US Dollar's short-term prospects, which would impact on Silver.

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