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**IFX Gertrude** · 01-26-2023, 05:13 AM

Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Thursday January 26, 2023

On the 4-hour chart of the Silver commodity asset, it appears that a hidden deviation has emerged between the price movement of Silver which is in a bearish channel and the Awesome Oscillator indicator which confirms that in the near future Silver has the potential to fall down to the 23,598-area level. 23,413 as the main target and level 23,165 as the next target to be tested but if on the way to the targets of these levels suddenly Silver is corrected upwards significantly breaking above level 24,105 then all the setups previously described will become invalid and automatically cancel by itself.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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**IFX Gertrude** · 01-26-2023, 07:04 AM

UK CAR PRODUCTION FALLS 9.8% IN 2022, ELECTRIC VEHICLE OUTPUT AT RECORD

Car production in the United Kingdom declined sharply in the year 2022, as global chip shortages and structural changes hampered output along with weaker exports, while electric vehicle production hit a record high, data from the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday.

Total car production fell 9.8 percent on an annual basis. There were 775,014 units produced in 2022, down from 859,575 in 2021.

Demand from the domestic market increased 9.4 percent, while that from the foreign market plunged 14.0 percent in 2022.

Despite facing global challenges, UK factories produced a record number of electrical vehicles in 2022, totalling 234,066 units. This shows a 4.5 percent rise annually to represent almost a third of all car production.

In December, UK car production slumped 17

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**IFX Gertrude** · 01-27-2023, 05:28 AM

Oil prices edge up, and Russia transfers record volumes on high seas

Oil is steadily rising in trading on Thursday amid expectations of increased demand. The easing of some quarantine restrictions in China promises the market a recovery in consumption this year, which supports the general optimism in the commodity sector.

Brent crude for March delivery was at $87.31 per barrel on the London ICE Futures Exchange by 17:39 London time, up 1.38% on the previous trading day.

The West Texas Intermediate for March delivery was at $81.22 a barrel on the New York Mercantile Exchange, i.e., 1.33% above the final value of the previous trading session.

Oil prices were also supported by the report on crude oil stocks in the US, which was published on Wednesday. The U.S. Energy Information Administration (EIA) reported that the country's commercial crude oil inventories rose by 0.5 million barrels during the week ending Jan. 20. Analysts had expected reserves to grow by 0.97 million barrels.

Distillate inventories continued to fall by 0.51 million, reflecting the cold weather in the country. Demand for refined products in the US declined slightly over the week, but still remained at quite comfortable levels for current prices - 19.5 million barrels per day.

Meanwhile, Bloomberg reported that Russia has transshipped record volumes of Urals oil at sea. According to the agency, a total of 19 million barrels of crude oil are likely to be transshipped in January and December. The report said that volume of such crude is expected to hit a record 14 million barrels in January alone.

Recall that at the beginning of December, the European Union prohibited the maritime transport of Russian crude oil and petroleum products. In addition to that, following the G7 plan, EU countries agreed to cap the maritime trade of Russian oil at $60 per barrel. Such a sanction measure led to the fact that the cost of freight began to grow rapidly. Vessels that transship crude at $60 and below are obliged to use insurance under the current conditions.

Bloomberg reported that sources said a fifth supertanker, or very large crude carrier (VLCC), are involved in transshipment of Urals. Three vessels have already departed for Asia, and two more are waiting for departure at the Spanish transshipment point.

The EU, among other sanctions measures, is also studying the possibility of imposing a price limit of $100 per barrel on Russian diesel fuel.

The EU is also studying the possibility of setting a price ceiling on oil products from Russia that are traded at a discount, such as fuel oil, at $45.

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**IFX Gertrude** · 01-30-2023, 08:27 AM

TAIWAN CONSUMER CONFIDENCE IMPROVES SLIGHTLY ON STRONGER EXPECTATIONS

Taiwan's consumer sentiment strengthened for the first time in five months, albeit modestly, at the start of the year, led by the improvement in the households' perception of the general economic outlook, survey data from the National Central University's Research Center for Taiwan Economic Development, or RCTED, showed Monday.

The consumer confidence index rose to 59.73 from 59.12 in December. Among the six sub-indicators of the survey, five increased and one declined.

The biggest improvement was witnessed in the measure reflecting the view on the domestic economic situation in the next six months. The corresponding index added 1.25 points to reach 76.85.

Sub-indicators for the personal economic situation in the next six months and that for the intentions to invest in the stock market also climbed from the previous month.

Households also turned positive regarding big purchases this month. The indicator for employment expectations in the next half year increased slightly.

Meanwhile, the sub-index for the assessment of the domestic inflation in the next six months declined.

The survey was conducted over the telephone from January 18 to 21 among 2,900 people over the age of 20 in Taiwan.

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**IFX Gertrude** · 01-31-2023, 01:22 AM

SOUTH KOREA INDUSTRIAL OUTPUT SLIPS 2.9% IN DECEMBER

Industrial production in South Korea was down a seasonally adjusted 2.9 percent on month in December, Statistics Korea said on Tuesday.

That was roughly in line with forecasts following the upwardly revised 0.6 percent increase in November (originally 0.4 percent).

On a yearly basis, industrial production sank 7.3 percent - shy of forecasts for a decline of 5.1 percent following the upwardly revised 3.4 percent decline in the previous month (originally -3.7 percent).

The all-industry index was down 1.6 percent on month and 0.8 percent on year.

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**IFX Gertrude** · 02-01-2023, 06:12 AM

JAPAN MANUFACTURING PMI HOLDS STEADY IN JANUARY - JIBUN

The manufacturing sector in Japan continued to contract in January, and at a steady pace, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 48.9.

That's unchanged from the December reading and remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The main positive influences on the headline PMI came from slower cutbacks to production and a smaller decline in new orders. January data pointed to only a modest reduction in output levels across the Japanese manufacturing sector, with the speed of decline the slowest since October 2022.

Survey respondents noted that production schedules were curtailed due to weaker customer demand and more subdued underlying business conditions, especially across the electronics supply chain. At the same time, some firms commented on a boost from improved materials availability and efforts to replenish inventories.

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**IFX Yvonne** · 02-02-2023, 02:13 PM

POUND REBOUNDS AFTER BOE DECISION

As expected, the Bank of England raised its key rate by 50 basis points to 4 percent from 3.50 percent. Following the decision, the pound recovered against its major counterparts. The pound was trading at 1.2368 against the greenback, 158.17 against the yen, 1.1244 against the franc and 0.8896 against the euro around 7:04 am ET.

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**IFX Yvonne** · 02-03-2023, 07:27 AM

JAPAN SERVICE SECTOR ACCELERATES IN JANUARY - JIBUN

The services sector in Japan continued to expand in January, and at a faster pace, the latest survey from Jibun Bank revealed on Friday with a services PMI score of 52.3. That's up from 51.1 in December and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Anecdotal evidence suggested that the recovery from the COVID-19 pandemic continued in January thanks to the easing of restrictions. A number of respondents indicated that the National Travel Discount Program had added an extra boost to domestic travel. As well as helping to boost activity, these factors also supported new business at the start of the year. The survey also said that the composite index improved to 50.7 in January from 49.7 in December.

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**IFX Gertrude** · 02-06-2023, 07:39 AM

ESTONIA INDUSTRIAL PRODUCTION SLUMPS 11.6%

Estonia's industrial production continued to decline sharply at the end of the year, data from Statistics Estonia showed on Monday.

Industrial production contracted 11.6 percent year-on-year in December, slightly slower than the 12.2 percent rise in the previous month. Further, this was the fourth successive monthly decrease.

Among the main sectors, mining and quarrying output fell the most by 14.7 percent annually in December, which was worse than the 11.1 percent fall in the prior month.

Manufacturing production also registered a double-digit negative growth of 11.5 percent, and output produced in the utilities sector plunged 13.1 percent.

In energy production, the volume of electricity production decreased by 16.2 percent and the production of heat by 10.7 percent annually, the agency said.

On a seasonally adjusted basis, industrial production recovered 2.1 percent monthly in December, reversing a 3.8 percent drop in November. It was the first increase in four months.

In 2022, total industrial production declined 1.9 percent compared to 2021, largely led by a 2.7 percent fall in manufacturing output.

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**IFX Gertrude** · 02-07-2023, 04:30 AM

AUSTRALIA CENTRAL BANK HIKES RATE BY 25 BPS

Australia's central bank raised its benchmark rate by a quarter-point on Tuesday, as widely expected.

At the first meeting of the year, the board decided to lift the cash rate target by 25 basis points to 3.35 percent.

The interest rate on Exchange Settlement balances was also raised by 25 basis points to 3.25 percent.

The current sequence of policy tightening has taken the cash rate target to 3.35 percent from 0.10 percent, indicating a total 325 basis-point increase since April 2022. RBA Governor Philip Lowe said further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target and that this period of high inflation is only temporary.

"The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that," Lowe said.

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