EUR/USD 1.17904
0.069%
Gold 4971.58
-0.091%
Oil 65.214
0.492%
USD/JPY 154.986
0.107%
GBP/USD 1.34921
0.001%
GBP/JPY 209.113
0.116%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Indonesian rupiah fell to its lowest level against the US dollar since January 22, last trading at 16,915 rupiah to the dollar.On February 19th, China submitted its "Position Paper on WTO Reform under the Current Situation" to the World Trade Organization (WTO). The head of the WTO Department of the Ministry of Commerce provided an interpretation of the position paper. The overall position outlines Chinas general understanding of the WTO and its basic attitude towards WTO reform. The position paper states that the WTO provides open, non-discriminatory, stable, and predictable institutional guarantees for economic globalization. While the multilateral trading system has been impacted by unilateral tariff measures, and trade tensions have intensified, WTO rules and mechanisms remain a crucial barrier against trade turmoil. Unilateralism and protectionism are not the solution; all parties should address the real challenges brought about by economic globalization through multilateral cooperation, domestic reforms, and inclusive and mutually beneficial development. The position paper emphasizes that economic globalization is an unstoppable historical trend. WTO reform should aim to strengthen multilateral trade governance, uphold the most-favored-nation (MFN) treatment as the cornerstone of the WTO rules system, and place development at the center of the WTO reform agenda. It should address long-standing unresolved issues while exploring and formulating new rules for the future.Reserve Bank of New Zealand Assistant Governor Silk: Even with a small rate hike, interest rates will only be near the bottom of the neutral range.Reserve Bank of New Zealand Assistant Governor Silk: Maintaining an accommodative policy for some time is in line with reality.Sources say Germany is considering purchasing more F-35 fighter jets from the United States.

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.

 

image.png 


Suggestion