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Hong Kong Financial Secretary Paul Chan Mo-po stated today (December 14th) that public consultation on the new fiscal years budget is about to begin. One of the key issues will be how to further expand the scope and areas of economic development, accelerate the cultivation and application of innovative technologies, expedite the optimization of the industrial structure, create more high-quality jobs, and add momentum to high-quality development. We look forward to more concrete suggestions from everyone, working together to build a better future for Hong Kong.On December 14, the Sansha Maritime Safety Administration issued a navigation warning stating that rocket debris will fall in certain waters of the South China Sea between 10:15 and 12:15 on December 16, and entry is prohibited.On December 14th, a political funds income and expenditure report revealed that at least five branches of the Liberal Democratic Party (LDP) in Mie, Osaka, Yamaguchi, Nagasaki, and Kagoshima prefectures used political funds to pay for entertainment venues such as bars and nightclubs. In 2023, these expenditures totaled approximately 1.11 million yen (about 50,000 yuan). According to regulations, LDP branches are not required to record single political fund expenditures of less than 50,000 yen (about 2,264 yuan), suggesting the actual amount of political funds involved in the alleged misuse may be higher. In response to the allegations, the Osaka branch claimed the expenditures were "intended to create a smooth communication environment." The Mie and Nagasaki branches stated they would strengthen their management.On December 14th, the U.S. Department of Defense announced that two U.S. Army soldiers and one civilian translator were killed and three others wounded in an attack in Syria on December 13th. The Department of Defense stated that the attack was carried out by militants from the extremist group ISIS, and the attackers were killed. In response, U.S. President Trump stated that retaliatory action would be taken. Also on December 13th, Nourdin Baba, a spokesman for the Syrian transitional governments Interior Ministry, said that the gunman who attacked a joint Syrian-U.S. patrol in Homs province in central Syria was a Syrian security officer who may have held extremist views.On December 14th, local time, Ukrainian President Volodymyr Zelenskyy stated that Ukraine is preparing for meetings with the United States and European allies in the coming days. He will travel to Berlin to meet with US and European representatives to discuss "building the foundations of peace." Zelenskyy stated that this series of consultations is "decisive" for Ukraine, and that Ukraines core objective is "to achieve a decent and just peace." Earlier that day, Germany announced that it would host a US and Ukrainian delegation on the 14th to hold talks on issues such as the Russia-Ukraine ceasefire and to prepare for the summit of European leaders, including Zelenskyy, to be held in Berlin on the 15th. According to previous reports, US Presidential Envoy Witkov and former White House senior advisor Jared Kushner have already departed for Germany to meet with Zelenskyy and other European leaders.

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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