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ECB President Christine Lagarde: The ECB is studying defensive measures against Myhtos-driven attacks.The chart shows that at 22:00 Beijing time on May 8th, there will be large foreign exchange option orders for Euro, Swiss Franc, British Pound, Japanese Yen, etc., expiring, including 7 large orders with strike prices exceeding 1 billion. Please manage your risks.Market news: Korean Air will extend the suspension of flights to Dubai until August 2.On May 8th, 17 national industry associations and chambers of commerce, including the China Federation of Logistics and Purchasing, the China General Chamber of Commerce, the China National Textile and Apparel Council, the China National Light Industry Council, and the China Federation of Internet Societies, jointly released the "Domestic Trade Transaction Guidelines (Trial)" in Beijing under the guidance of the Ministry of Commerce and other relevant departments. This guideline provides clear, explicit, and operable behavioral norms for enterprises engaged in domestic trade, including wholesale, retail, logistics, and accommodation and catering, contributing to the construction of a unified national market. According to reports, the "Domestic Trade Transaction Guidelines (Trial)" focuses on the entire domestic trade process, clarifying and stipulating regulations for each stage, including contract signing, goods delivery and acceptance, payment terms, dispute resolution, and standardized business practices.The German DAX index fell by 1.00% on the day.

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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