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March 12th - It was learned today that in response to strong public complaints about the difficulty of identifying food labels and the persistent problems of "ghost deliveries" in online catering, the State Administration for Market Regulation has issued 13 regulations covering multiple areas including production and operation, labeling, centralized catering, and online transactions. The "Measures for the Supervision and Management of Food Labeling" directly addresses the prominent issues of labels being "unreadable, difficult to find, and unclear," mandating that production dates and expiration dates be clearly marked in separate areas with high contrast and significantly larger font sizes, and directly labeling expiration dates without conversion. At the same time, it standardizes the labeling of special foods, strengthens the exclusive "blue hat" and "blue flower" logos and warning statements, and prohibits false advertising such as "specially supplied" or "exclusively supplied," effectively protecting consumers right to know and right to choose, so that the public can buy with confidence and eat with peace of mind.March 12th - It was learned today that the State Council Food Safety Office will accelerate the improvement of the legal and standard system this year, promote the comprehensive revision of the Food Safety Law, and expedite the formulation and revision of food safety-related standards such as pre-prepared vegetables, pesticide and veterinary drug residue testing, and cold chain transportation, ensuring that supervision has clear standards and regulations to follow. It will also improve cross-departmental consultation, joint inspection, and joint enforcement mechanisms, and conduct regular special campaigns targeting key areas and products that have drawn strong public concern, such as school food safety, "ghost food delivery," and the abuse of food additives. Regarding school food safety, it will continue to deepen the construction of "Internet + transparent kitchens," improve the school food procurement mechanism, strengthen regular joint inspections, and strictly prevent unqualified food from entering schools.March 12 - According to sources directly informed by port agents, Oman has evacuated all vessels from its key oil export terminal, Maina al-Fahhar, as a precautionary measure. Fahar, located outside the Strait of Hormuz, is one of the few ports still capable of shipping Middle Eastern crude oil to global markets. However, Iranian attacks in the region have made the surrounding waters unsafe. According to data intelligence firm Kpler, Fahar exports approximately 1 million barrels of Omani crude oil daily. Loading operations continue at Fujairah port in the UAE, also located outside the strait, but some ship owners are avoiding the port due to the risk of attacks. Yanbu port, located on Saudi Arabias Red Sea coast, remains capable of exporting oil.March 12th - Nexperia (China) recently launched a new series of LDOs with 40V input and 120mA/150mA/300mA output current. This series integrates complete input and output protection functions, making it perfectly suited for automotive electronic applications where power is supplied off-board via wiring harnesses, such as body control, BMS, lighting, steering, and powertrain products. Furthermore, Nexperia (China)s full range of automotive-grade off-board protection LDO chips is now in mass production.It is understood that Oman will evacuate the relevant vessels from the Maina al-Fahar oil terminal.

Silver Price Prediction - Silver Price Increased Due to Weak Dollar

Alina Haynes

May 12, 2022 11:03

On Wednesday, silver prices increased alongside the other precious metals. As yields decreased, the dollar declined. In spite of stronger-than-anticipated headline and core CPI reports, Benchmark rates declined today. Gold prices rose as the currency weakened.

CPI Rose Greater Than Anticipated

Wednesday, the U.S. Labor Department revealed April's CPI. The headline CPI came in at 8.3%, slightly lower than March but higher than the 8.1% experts had predicted. The study also revealed that the core CPI, excluding food and energy, rose by 6.2% year over year, which was greater than anticipated. The month-over-month growth also exceeded projections. The Bureau of Labor Statistics (BLS) stated that April inflation grew 0.3% on the headline CPI, compared to the 0.2% expected, and 0.6% on the core CPI, compared to the 0.4% expected gain.

Technical Evaluation

After falling, silver prices recovered, reclaiming short-term support near the September lows at 21.42.

 

Near the 20-day moving average of 23.52, there is observed to be resistance. The 20-day moving average has fallen below the 50-day moving average, indicating a medium-term decline. As indicated by the fast stochastic crossover buy signal, near-term momentum has turned positive. Prices are oversold since the fast stochastic is displaying a value of 13 below the oversold threshold of 20.

 

The medium-term momentum has become negative as the histogram and MACD both print in a negative direction (moving average convergence divergence). The MACD histogram is moving in a negative direction, reflecting the downward trend in price movement.

 

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