Abstract:This morning, Japanese Prime Minister Shinzo Abe convened an interim cabinet meeting. All cabinet members resigned. In the afternoon, the leader of the Japanese ruling party Yoshihide Suga will become the new prime minister, and the Abe era officially ends.
September 16 News This morning, Japanese Prime Minister Shinzo Abe convened an interim cabinet meeting. All cabinet members resigned. In the afternoon, the leader of the Japanese ruling party Yoshihide Suga is expected to become the new prime minister, and the Abe era officially ends. Under the shadow of the economic recession, Yoshihide Suga will shoulder the important task of promoting economic recovery.
On Wednesday (September 16), silver futures opened at 27.350 US dollars per ounce, the highest reached 27.490 US dollars per ounce, and the lowest touched 27.200 US dollars per ounce. As of press time, it temporarily reported 27.435 US dollars per ounce, a decrease of 0.11%.
Japan's Shinzo Abe era ends
Japanese Prime Minister Shinzo Abe held an interim cabinet meeting on the morning of the 16th local time to summarize the resignations of cabinet members and announce the resignation of all cabinet members. So far, the second Abe regime, which lasted 7 years and 8 months, has officially come to an end.
The leader of the Japanese ruling party Yoshihide Suga will be formally elected as the prime minister of Japan in the parliamentary vote on Wednesday, becoming the country's first new prime minister since 2012. Yoshihide Suga's ruling party, the Liberal Democratic Party, is expected to use its majority in the powerful House of Representatives to elect him as Prime Minister. The meeting should start at about 13:00 local time. After the vote, Yoshihide Suga will appoint his cabinet members, and the new ministers may speak to the media today.
Yoshihide Suga will face a series of problems after taking office. Affected by the epidemic, the Japanese economy is under tremendous downward pressure.
According to recent data, Japan’s exports in August recorded a double-digit decline for the sixth consecutive month, and exports to the United States fell sharply. The global demand slowed due to the new crown epidemic. This has clouded the hope that trade will lead the economy out of a deep recession. The decline in exports highlights the important task of Japan's new Liberal Democratic Party President Yoshihide Suga in promoting economic recovery. The decline in exports in August was dragged down by the decline in exports of automobiles and fossil fuels, but the decline was slower than in July, as economic activity showed signs of heating up.
Silver futures market outlook
The global environment is still favorable for precious metals, but the rebound of the dollar temporarily limits the rise of silver futures. Yesterday, the Kshitij consulting service team stated that silver futures need to break through 28 US dollars per ounce to gain a faster upward momentum. As long as it stays above US$27/ounce, the view is still bullish and is expected to rise to US$28-29/ounce; but if it cannot be maintained above US$27/ounce, then the price of silver may fall to US$26/ounce. Need to observe the price trend above 27 US dollars / ounce. The Fed's interest rate decision early tomorrow morning Beijing time may influence the trend of silver futures.
At the beginning of the Asian session of this trading day, silver futures maintained a trend of volatility and weak, but still stayed above 27.2 US dollars. Judging from the 1-hour chart, the green kinetic energy column has gradually shortened, the short kinetic energy has weakened, and the downward trend of silver futures has slowed down significantly.