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June 29th - A rare heatwave is sweeping across Europe. On the 27th local time, record high temperatures were broken in Germany, the Czech Republic, and other regions, while governments in Hungary, Poland, and other countries issued nationwide heatwave warnings. The high temperatures in many European countries have spurred demand for air conditioners, fans, and other related products. Driven by strong cross-border e-commerce channels, orders for cooling products made in China have increased significantly, becoming a new growth point for foreign trade exports this summer. Zheng Li, International Trade Director of a company in Ningbo, Zhejiang, stated that from January to May this year, the shipment volume of ice machines to Europe increased by over 70% compared to the same period last year, accounting for about 15% of total sales.① Iran 1. Iranian Foreign Minister: The Straits of Hormuz will be completely under Iranian control within the next 30 days; any intervention will delay the reopening of the Straits. 2. Iranian Foreign Minister calls for the establishment of a “security framework” with Gulf states. 3. Leaders of the Iranian and Lebanese parliaments spoke by phone minutes ago to discuss bilateral issues, particularly the situation in Lebanon. 4. Iran urges the United States to set a timetable for Israel’s “unconditional” withdrawal from Lebanon. ② United States 1. US Ambassador to the United Nations: Iran must choose responsibility or destruction. ③ Israel 1. Israeli Prime Ministers Office: The Israeli military has destroyed Hezbollah’s underground infrastructure in a village in southern Lebanon; Israel notified the United States of the attack in advance. The military will continue to destroy Hezbollah infrastructure to eliminate the threat to northern towns. ④ US-Iran Negotiations 1. Israeli i24NEWS reporter reports that the US-Iran negotiations scheduled for Sunday have been canceled. 2. Iranian officials say Iran did not participate in the technical negotiations scheduled for Sunday due to recent attacks and unfulfilled conditions. 3. Iraqi Foreign Minister: Willing to mediate between the US and Iran to end the war. 4. US media: The US and Iran have agreed to halt mutual attacks and will meet in Qatar this week to resolve the dispute over the Strait of Hormuz. ⑥ Other developments: 1. Israeli military: Hamas naval commander killed in Gaza attack. 2. According to the Associated Press: Pakistan claims it conducted ground operations and strikes in the Afghan border region, resulting in the deaths of 29 militants.June 29 (AP) -- Pakistani officials said security forces conducted an intelligence-based ground operation along the Pakistan-Afghanistan border on Sunday, followed by "precision strikes" on militant hideouts and shelters, killing 29 militants. Pakistani Information Minister Attra Talal said the operation was in response to multiple militant attacks across the country. The previous day, militants armed with guns and explosives attacked the regional headquarters of the paramilitary group Rangers in the southern port city of Karachi, killing three soldiers. Security forces killed three attackers and arrested another, identified by the military as a wounded Afghan national. The Pakistani Talibans separatist faction, the Free Peoples Party, claimed responsibility for the Karachi attack in a statement released Saturday evening.According to Axios: US officials revealed that the US and Iran have agreed to cease attacks and will meet this week.According to the Associated Press, Pakistan claims that it conducted ground operations and strikes in the Afghan border region, resulting in the deaths of 29 militants.

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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