Today, Monday (April 28), during the Asian trading session, international silver is currently trading below 32.67 THB/ounce, opening at 33.06 THB/ounce, and as of this publication, it is quoted at 32.91 THB/ounce, down by 0.51%, with a high of 33.11 THB/ounce and a low of 32.64 THB/ounce. Currently, short-term price action for international silver appears to be bearish.

European Companies Caught in Strategic Quagmire, Silver Strength Eases

[Market Highlights]

During this period of intense exchange rate volatility, the European automotive manufacturing sector has borne the brunt of the impact. As one of the region's core export categories, automotive stocks have fallen by 8% since President Trump took office, significantly exceeding the less than 1% decline in the STOXX 600 index over the same period. Last week, Bundesbank President Nagel issued a risk warning, noting that Germany, as the EU's largest economy, may face a slight contraction in economic growth in 2025. The International Monetary Fund simultaneously lowered its forecast for EU economic growth over the next two years, adding uncertainty to the regional economic outlook.

The violent fluctuations in the exchange rate market have plunged European companies into a strategic quagmire. It is estimated that every 1 US cent appreciation of the euro against the dollar will reduce annual revenue by 30 million euros. Jackie Bowie analyzed that although currency hedging operations by companies have shown an increasing trend this year, there are signs of recent strategic adjustments. Market participants are concerned about missing favorable exchange rate windows and locking in unfavorable conversion rates. More complexly, sudden adjustments in tariff policies could directly undermine the effectiveness of hedging tools. This multi-dimensional operational challenge is comprehensively testing the crisis response capabilities of European companies.

[Latest International Silver Analysis]

Last week, the upward momentum of international silver prices encountered resistance at the level of 33.7 THB/ounce and paused. After some adjustments, it temporarily stabilized and closed around 33 THB/ounce. From the current trend analysis, silver remains in an overall bullish trend, but compared to its previous robust performance, its momentum has eased. In terms of future movements, there is potential for further upward movement towards 34 THB/ounce. Given this, silver is expected to continue its strong performance this week.

Resistance levels to watch are 34 THB/ounce and 34.5 THB/ounce, where highs might be tested; support levels to focus on include 32 THB/ounce, which serves as a significant support level. If this position is breached, silver prices could open up for a larger downward movement, leading to a more substantial decline.