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February 13th - On February 12th, Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, chaired a roundtable meeting with German-invested enterprises. Representatives from over 60 German companies and associations, including the German Chamber of Commerce and Industry Beijing Representative Office, the German Chamber of Commerce in China, BASF, BMW Group, and Bayer Group, attended the meeting. Relevant departments from the Ministry of Commerce, the National Development and Reform Commission, the State Administration for Market Regulation, the State Intellectual Property Office, and the Cyberspace Administration of China interacted with the German companies, actively responding to their concerns regarding government procurement, intellectual property protection, and optimizing the business environment.Switzerlands January CPI rose 0.1% month-on-month, compared to a forecast of 0% and a previous reading of 0.00%.Switzerlands January CPI rose 0.1% year-on-year, below the expected 0.10% and the previous reading of 0.10%.February 13 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on February 13. According to reports, preliminary vote counts show that the Bangladesh Nationalist Party (BNP) won a majority of seats in the Bangladesh National Assembly elections, and its chairman, Tariq Rahman, son of former Prime Minister Khaleda Zia, is expected to become Prime Minister. A Bloomberg reporter asked about this at the conference. Lin Jian stated that China has noted the smooth and successful holding of the national elections in Bangladesh, with the BNP achieving a significant lead. China supports Bangladesh in advancing its domestic political agenda and is willing to work with Bangladesh to continuously advance the China-Bangladesh comprehensive strategic cooperative partnership.February 13 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on February 13. A Bloomberg reporter asked, “Japan claims it has detained a Chinese fishing vessel and arrested its captain because the vessel attempted to evade inspection after entering Japan’s exclusive economic zone. What is the Foreign Ministry’s comment on this?” Lin Jian stated that the Chinese government consistently requires Chinese fishermen to operate in accordance with laws and regulations, while resolutely safeguarding the legitimate rights and interests of Chinese fishermen. He expressed hope that Japan would strictly abide by the China-Japan Fisheries Agreement, enforce the law impartially, and protect the safety and legitimate rights and interests of the Chinese crew members.

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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