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Hong Kong-listed coal stocks declined, with Jiahe Holdings (00704.HK) and Green Leader Holdings (00061.HK) falling more than 8%, Shougang Resources (00639.HK) down 3.56%, and Yankuang Energy (01171.HK) and Mongolia Energy (00276.HK) down nearly 3%.Hong Kong-listed insurance stocks continued to rise in the afternoon, with China Life (02628.HK) extending its gains to 5%, AIA (01299.HK) rising over 4%, and China Pacific Insurance (02601.HK) and Peoples Insurance Company of China (01339.HK) rising over 3%.Hong Kong-listed semiconductor stocks rallied again in the afternoon, with Shanghai Fudan (01385.HK) up 6.79%, Naxin Microelectronics (02676.HK) up over 5%, and GigaDevice (03986.HK) and Chipwise Holdings (02166.HK) up over 4%.On January 27th, Michael Krutzberg, Chief Investment Officer of Public Markets at Allianz Global Investors, stated that with the exception of dovish Governor Milan, who may have objections, the Federal Reserves decision to maintain interest rates this week is expected to receive support from all other voting members. In a report, he noted that since this meeting will not update the summary of economic projections or the dot plot, market focus will shift to the extent to which Chairman Powell will respond to the current challenges to the Feds independence posed by executive power. Krutzberg believes that Powells comments on this issue at the press conference may have a greater impact on the market than the interest rate decision itself—especially any hints regarding his plans to remain on the board until 2028 after his term as chairman ends in May.The CEO of Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates said that oil demand will remain above 1 billion barrels per day from now until 2040.

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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