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Sources say that before the Russian attack, the Friendship pipeline carried both Ukrainian and Russian crude oil.As of 8:30 PM Beijing time, WTI crude oil futures rose 2.44%, and US natural gas futures rose 1.31%.On February 27, the Ministry of Ecology and Environment and the State Taxation Administration signed a Memorandum of Understanding in Beijing on the same day, titled "Memorandum of Understanding on Deepening Cooperation among Environmental Protection Tax Collection and Management Departments." This memorandum aims to further enhance cooperation between the two departments, continuously utilize taxation as an economic means to protect the ecological environment, promote green economic transformation, and serve the construction of a beautiful China. According to the memorandum, the Ministry of Ecology and Environment and the State Taxation Administration will further deepen cooperation in areas such as information sharing, tax collection and management services, routine review, and joint supervision. They will jointly guide local ecological and environmental protection and tax departments at all levels to deepen cooperation, continuously expand the depth and breadth of collaborative governance, and continuously promote efficient governance and high-quality development.Deutsche Bank downgraded Warner Bros. Discovery Inc. (WBD.O) from "Buy" to "Hold"; raised its price target from $29.50 to $31.February 27th - According to a joint survey by YouGov and Citigroup, public expectations for inflation in the UK declined in February, leading economists at Bank of America to believe that the Bank of England is likely to cut interest rates in March. They noted, "Our base case remains that a softening labor market, declining inflation, and slower wage growth should lead the Bank of England to cut rates in March." LSEG data shows that the market expects an 83% probability of a rate cut by the Bank of England in March.

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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