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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

Prediction for Silver Prices - Silver prices will rise when the dollar falls on bad employment reports

Alina Haynes

May 20, 2022 10:12

As poor employment data pointed to a possible slowdown of economic development, silver prices increased. Due to gold's attraction as a safe haven, its price rises when rates and the currency fall.

 

The dollar declines due to weaker-than-expected employment statistics. In the midst of a market sell-off, investors flocked to bonds, causing benchmark rates to decline. Today, the yield on ten-year bonds fell by 7 basis points.

 

Oil prices increase in anticipation of a European embargo on Russian oil. This circumstance has thwarted proposals to loosen limits in Shanghai, which would have boosted demand.

 

Unemployment claims unexpectedly reached their highest level since January last week. Initial claims increased by 21,000 from the previous week, reaching 218 000. In contrast, ongoing claims fell to 1.32 million, the lowest level since 1969.

 

Greater interest rates lower labor demand. The Fed's intentions to quickly raise rates to rein in inflation may loosen the labor market, leading to an increase in demand relative to job supply.

Technical Evaluation

The price of silver has reached a one-week high and is approaching the $22 mark. A fall in prices will find support at the $21 midpoint, which would benefit optimistic traders. A bigger breach below that level might alter the picture to negative.

 

Near the 10-day moving average of $21.5, there is support. Near the $22 level, we see resistance. The short-term momentum is bullish, since the fast stochastic signaled a buy crossing.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The MACD histogram is moving in a positive direction, indicating an upward trend in price movement.

 

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