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U.S. Treasury Secretary Bessant: The U.S. economy will grow by 3% after the conflict with Iran.U.S. Treasury Secretary Bessant: Oil prices will enter a period of lower levels in the medium term following the end of the conflict.US Treasury Secretary Bessant: The Federal Reserve has a long way to go before returning to quantitative easing.On March 13, Irans Nokyo News Agency reported on March 12 that the Iranian Islamic Revolutionary Guard Corps (IRGC) announced that its navy had launched a fierce attack on the U.S. Navys Fifth Fleet base in Bahrain. According to a statement released by the IRGC, the navy conducted two rounds of operations that morning, using missiles and drones to launch a heavy attack on the U.S. Navys Fifth Fleet base in Salman, Bahrain. The bases anti-drone systems, unmanned surface vessel center, logistics and equipment center, fuel storage facilities, and areas where U.S. soldiers were concentrated were all subjected to "precision strikes."On March 13, Adobe (ADBE.O) announced that its CEO, Shantanu Narayen, will step down as head of the creative software giant. This move comes amid deep market skepticism about the companys ability to thrive in the age of artificial intelligence. The company also provided its sales forecast for the current quarter, which, while slightly above expectations, failed to alleviate investor concerns that the software maker is being overtaken by new competitors. The company said on Thursday that revenue for the quarter ending in May would be between $6.43 billion and $6.48 billion. Analysts average expectation was $6.43 billion. Excluding certain items, earnings per share would be between $5.80 and $5.85, while analysts average expectation was $5.70. Adobe (ADBE.O) shares fell about 6% in after-hours trading.

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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