Spot silver was at $15.307 an ounce on Friday. Silver continued to retreat from pressure on the day, hitting an intraday low of $15.298 an ounce, and is now down 1.23 percent.
In terms of the global epidemic, Worldometers world real-time statistics show that as of 09:59 Beijing time on April 17, the cumulative number of confirmed covid-19 cases worldwide reached 2,182,197, the cumulative number of deaths reached 145,521, and the cumulative number of cured cases reached 547,295. The United States had the highest number of confirmed COVID 19 cases in the world, with 677,570 cases, 34,617 deaths, and 57,508 cures.
“We have a very good relationship with Canada, and we will discuss that,” trump was quoted as saying on April 15 when asked if he would consider easing restrictions on the U.S. -canadian border. Mr Trump added that it would be one of the first to open.
However, Canadian prime minister Justin trudeau said on Thursday that the border between Canada and the United States may not reopen soon due to the spread of a novel coronavirus outbreak.
, according to the Capitol hill reported 16, local time, Canada’s prime minister Trudeau said in his daily briefing, “we very attach importance to relations with the United States, but at the same time, we are also very clear, at least for a long time, we can discuss to relax the restrictions, as a result, the border between Canada and the United States may not reopen soon.” Trudeau also urged Canadians to be patient, stressing the need for extensive virus testing before reopening.
On the daily chart, the dollar index rebounded from its lows, the MACD green momentum column was slightly narrowed, and the KDJ random index was slightly higher, indicating that the dollar’s upward momentum is still there but weak.
On the 4 hour chart, the dollar index after a slight fall, MACD red kinetic energy column slightly narrowed, KDJ random index turned lower, indicating that the dollar may continue to develop a period of retreat.
On the daily chart, silver prices after high pressure fall, MACD red kinetic energy column slightly narrowed, KDJ random index continues to fall, indicating that silver retracement kinetic energy strengthening, silver prices to pick up incoming materials continue to weaken.
On the 4-hour chart, silver price maintained a narrow range of pressure trading, the MACD green kinetic energy column slightly expanded, the KDJ random index turned sharply lower, indicating that silver short – term momentum to strengthen, continue to extend the trend of retreat.
fundamentals Positive factors:
- Worldometers world real-time statistics show that as of 09:59 Beijing time on April 17, the global total number of confirmed covid-19 cases reached 2,182,197, the total number of deaths reached 145,521, and the total number of cured cases reached 547,295. The United States had the highest number of confirmed COVID 19 cases in the world, with 677,570 cases, 34,617 deaths and 57,508 cures.
- Coronavirus and forced closures of businesses across the country are again fueling U.S. jobless claims. The number of Americans applying for unemployment benefits reached 5.245m last week, according to a government report released on Thursday. Adding in the three initial claims reports from the labor department, U.S. jobless claims climbed to 2.02 million in the past four weeks. That is slightly lower than the 22.442 million nonfarm jobs added since November 2009. The U.S. economy began adding jobs again in November 2009 for the first time since the recession.
- The Philadelphia fed’s business conditions index fell to -56.6 on Thursday, touching its lowest level since July 1980, as economic activity in the region slumped this month.
- On Thursday, new housing starts for March were reported at 1.216 million units, compared with an expected 1.3 million, up from 1.59 million.
- U.S. retail sales fell a record in March as a forced shutdown to contain the spread of novel coronavirus crimped demand for a range of goods, leading to the biggest drop in consumer spending in decades. Retail sales fell 8.7% in March, the Commerce Department said Wednesday, the biggest drop since it began tracking the data in 1992, after a revised 0.4% decline in February. The figure was below expectations and the consensus forecast was for an 8 percent fall.
Fundamental negative factors:
- US President Donald Trump on Thursday set out guidelines for a three-stage state-wide economic reboot, setting out testing standards states must meet and requiring rapid provision of protective gear to reopen. The governors of each state can carry out the guidelines according to the conditions of their own state, rather than relying on the orders of the federal government. The guidelines, titled “open America again,” have not yet been officially released, and Mr. Trump has distributed documents to state governors.
- US President Donald Trump said on Wednesday that the us had passed the “peak” of the coronavirus outbreak. On Thursday he will discuss guidelines for reopening the United States. Now Trump has canceled plans to set up a new task force to revive the economy and instead has held a series of phone calls with business leaders, according to two sources.
- German chancellor Angela Merkel said on Wednesday that her country would begin easing restrictions on its economy from April 20. Shops under 800 square meters can be reopened if measures are taken to “keep them clean”.
- On Tuesday, China’s exports fell 6.6% in March from a year earlier, lower than economists’ forecasts of a 14% drop. Imports fell less than 1 percent from a year earlier, below economists’ forecasts of a 9.5 percent drop. Risk sentiment returned after better-than-expected economic data from China.