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On May 9, the Zug Cantonal Court of Switzerland said in a statement that on May 9, 2025, the Zug Cantonal Court of Switzerland approved the settlement agreement signed by Nord Stream 2 AG, the operator of the Nord Stream 2 natural gas pipeline, and its creditors on April 30, 2025. The statement said they could appeal the decision on the settlement agreement. Since the decision of May 9, 2025 has not yet come into effect, the state court did not provide any additional information on the suspension of the restructuring of the debt of Nord Stream 2 AG. The Nord Stream 2 offshore natural gas pipeline can transport 55 billion cubic meters of natural gas per year, but the German authorities previously stopped the certification process for the natural gas pipeline, and the United States included the Nord Stream 2 project company on the sanctions list. One of the pipelines was damaged in a strong explosion in 2022. In early 2025, the Danish Energy Agency approved the Swiss subsidiary of Gazprom, Nord Stream 2 AG, to maintain the natural gas pipeline.On May 9, Hongmeng Intelligent Driving released its April Intelligent Driving Assistance Report. The report shows that Hongmeng Intelligent Drivings total mileage in April exceeded 264 million kilometers, the user activity rate reached 88.62%, the average intelligent driving assistance mileage per user reached 561.65 kilometers, and a total of 16.254 million times of intelligent assisted parking were used.Bank of England Governor Andrew Bailey said on May 9 that the trade deal reached between the United States and the United Kingdom on Thursday was a good thing, but tariffs on most British exports to the United States are still higher than they were before last month. "In a world where actual tax rates will be higher than before all this started, this is good news," he said during a question-and-answer session at an economic conference in Reykjavik. Bailey also reiterated that the British economy is highly affected by the global economy and depends largely on the agreements reached by other countries with the United States. Baileys remarks were similar to his remarks at a press conference yesterday, when a deal seemed to be about to be reached but the details had not yet been announced.European Commission President Ursula von der Leyen: Before the summer, we expect a major boost to the capital markets.Sources: In trade negotiations, India has asked the United States to waive all current and future tariffs. India has proposed to reduce the tariff gap with the United States from nearly 13% to less than 4% under a potential trade deal.

Silver Prices Fall Slightly Amid Strong Employment Data and a Firmer Dollar

Drake Hampton

Apr 02, 2022 09:45

Tips 

  • Silver prices fell somewhat as yields and the dollar increased.

  • The dollar increased in value while the euro fell, as Russia-Ukraine remains a point of contention.

  • Following good employment reports, a critical portion of the yield curve inverted.

  • Oil prices have swung wildly as the EIA considers expanding its oil reserves.

 

Silver prices fell slightly but remained mostly unchanged on Friday as benchmark yields increased. The yield curve's 2s-10s segment, a crucial segment of the curve, is inverted following positive job statistics. Gold prices have fallen as rates have increased and the dollar has gained. Oil prices fell in erratic trading as members of the International Energy Agency (IEA) met to discuss the release of further oil reserves and the United States' intention to deploy 180 million barrels, or one million barrels per day, over the next six months. This is the largest release from the US Strategic Petroleum Reserves in history (SPR). Regardless of the release of reserves, oil supply will remain a problem in the coming months.

 

On Friday morning, a slew of economic figures were revealed. Nonfarm payrolls, a proxy for the total number of workers in the United States, increased by 431,000 in March. Despite rising inflation and the possibility of an economic slump, the reading came in slightly below the consensus prediction of 490,000 people. Unemployment decreased by 0.2 percent to 3.6 percent, falling short of estimates of 3.7 percent. Hourly wages increased by 0.4 percent on average, in line with predictions. The reading is used to closely monitor inflation. Today's economic numbers were unsurprising, indicating that the Fed will most likely hike rates at each of the remaining six FOMC meetings this year.

Technical Evaluation

Silver prices fell but recovered, stabilizing near the 24.72-24.78 zone as the dollar and yields strengthened as a result of the jobs report. The recently announced jobs data indicates a stronger labor market, implying that the Fed will continue its hawkish posture and proceed with six rate hikes. Additionally, progress in the Russia-Ukraine peace negotiations indicates a decreasing trend in prices. Silver prices have a finite upward potential.

 

Resistance is located near the 10-day moving average, which is located near 25.02. Support is located near the 50-day moving average, which is located near 24.04. Short-term momentum shifted negative as the fast stochastic crossed below the zero line, signaling a sell signal.

 

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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