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On December 21, Russian Presidential Aide Ushakov told the media that the proposal to hold trilateral talks between Russia, the United States, and Ukraine has not yet been put on the agenda or discussed. He also pointed out that the modifications proposed by Ukraine and Europe to the Russia-Ukraine "peace plan" are not conducive to advancing the agreement. Ushakov confirmed that Russias Special Representative for Foreign Investment and Economic Cooperation, Dmitriev, is currently in Miami holding talks with the US. He revealed that Dmitriev will report on the results of the talks with the US after returning to Moscow. On the same day, Russian Presidential Press Secretary Peskov told the media that President Putin has no plans to speak with US President Trump before the end of the year, but arranging a call would be easy.On December 21st, according to Japanese sources, during a debate program, Itsunori Onodera, chairman of the Liberal Democratic Partys (LDP) Security Research Council, proposed that it is necessary to discuss the definition of the "Three Non-Nuclear Principles." He discussed Japans current reliance on the US "nuclear umbrella," stating, "This is one of the issues that should be discussed." Onodera said the LDP plans to submit a related motion to the Cabinet in February next year to promote discussion in the Diet. The "Three Non-Nuclear Principles" refer to not possessing, manufacturing, or introducing nuclear weapons. Recently, several political parties, politicians, and numerous civic organizations in Japan have called for adherence to the "Three Non-Nuclear Principles" to avoid a repeat of the tragedy of war.Kremlin: The idea of a trilateral meeting between Russia, the United States, and Ukraine has not yet been discussed.On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.

Silver Prices Dropped As the Dollar and Yields Were Under Pressure

Drake Hampton

Mar 31, 2022 10:20

Significant Insights 

  • Silver prices have remained quite stable.

  • The dollar has depreciated, losing its safe-haven status.

  • Yields declined as employment statistics indicated increased inflation fears.

  • Oil prices fell sharply in the aftermath of promising peace talks.

 

Silver prices were largely unchanged on Wednesday, finishing in the green. The GPD suggested an increase in economic growth of 7.1 percent, which bulls did not find impressive. Benchmark yields fell as bond spreads narrowed. Tuesday saw the end of the 5s-30s inversion. The inversion highlighted the prospect of a recession as a result of the Fed's interest rate hikes. Gold prices increased as the currency and Treasury yields fell. The dollar sank as the currency's safe-haven attraction waned and the Euro strengthened. Oil prices have risen as the US weighs more sanctions against Russia in areas critical to the country's invasion of Ukraine.

 

According to ADP's Private Payroll Report, private payrolls increased by 455,000 in March, above expectations. In March, economists predicted that 450,000 additional jobs would be generated. The preceding month's total was 486,000. The leisure and hospitality sectors added the most jobs, 161,000 in total. Despite a tighter labor market exacerbated by the Fed's aggressive stance, hiring remains healthy. This report comes just two days before the highly anticipated nonfarm payrolls report, which indicates job growth.

Technical analysis

Silver prices reached a high of almost $25.00, tested the 10-day moving average, and then fell to $24.80. While silver is now trading higher, the Russia-Ukraine peace talks indicate a downward trend. Critical US data and diminishing geopolitical uncertainties will cause the metal to fall. Additional weakness might result in a test of the 200-day moving average. The $26.00 level will be a litmus test, although bull prices are very certainly capped.

 

Support is located near the 50-day moving average at approximately 24.32. Near the downward sloping trendline near 25.7, resistance is seen. The short-term momentum went positive as a crossover buy signal was triggered by the fast stochastic.

 

The medium-term momentum is negative, as indicated by the histogram's negative correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is negative but decelerating, indicating an upward trend in price movement.


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