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February 12 - Today, the Taiyuan Satellite Launch Center in my country successfully launched seven satellites into space using a Jielong-3 carrier rocket from the sea area near Yangjiang, Guangdong. These satellites include the Pakistan PRSC-EO2 satellite, the CUHK-1 satellite, the Power Infrared Satellite A, the Shutianyuxing 03-05 satellites, and a space environment monitoring satellite. All satellites successfully entered their predetermined orbits, marking a complete success for the launch mission.Mercedes-Benz CFO: 2025 marks the peak of automotive investment.The preliminary figures for the UKs Q4 GDP annual rate, UK December industrial production month-on-month rate, UK December manufacturing output month-on-month rate, UK December seasonally adjusted goods trade balance, and UK December three-month GDP month-on-month rate will be released in ten minutes.Lenovo CEO: Lenovo raises PC prices to cope with soaring memory chip costs.On February 12th, Jeff Schulze of Clearbridge Investments noted in a report that the US January labor market data was positive for risk assets, as it showed a solid employment base that could further boost consumer spending. He stated that investors have postponed their expectations for a Federal Reserve rate cut from June to July, as the data indicates that the current labor market does not require additional monetary easing to maintain growth. While rising interest rates exert pressure, the improved economic growth outlook has completely offset this impact. Schulze also cautioned that although the report was generally positive, its important to note that January data is often heavily influenced by seasonal factors and may exaggerate the performance of the monthly jobs report.

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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