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Direct flights from Tehran, Iran to Doha, Qatar will be launched in July.On April 6, Saudi Arabias TASI index closed down 6.78%, hitting a new low in more than two years.On April 6, German Berenberg Bank said that due to the strong reaction of some US trading partners to the new tariffs and the widespread uncertainty, European economic sentiment in the second quarter may be worse than we previously expected. We lowered our forecast for real GDP growth in the euro area and the UK in the second quarter by 0.1 percentage point to 0.1% and 0.2% month-on-month respectively. This will lower our annual forecast for the euro area economy in 2025 to 0.9%, and our economic forecast for the UK in 2025 and 2026 to 0.9% and 1.3%, respectively.April 6, Germanys Berenberg Bank said that tariff uncertainty has not yet reached its peak. Trumps tariff shock has laid the foundation for negotiations. As long as the results of Trumps negotiations with various countries are unknown, companies around the world may hesitate to invest in the United States or its most affected trading partners. The failure of these negotiations may lead to rounds of tit-for-tat retaliation. Trump may also add new tariffs on specific industries, including medicines, which have so far been exempt from his reciprocal tariffs. We assume that in response to rising US inflation, economic turmoil and threats of retaliation, the United States will negotiate to cancel about half of its new tariffs on Europe by the end of the second quarter. Otherwise, the bank said it would have to further lower its forecasts for US and eurozone growth.The strong earthquake in Myanmar has killed 3,564 people, injured 5,012 people, and left 210 people missing.

Price Prediction for Silver - Silver prices are scarcely altered prior to the important inflation measurement

Alina Haynes

May 11, 2022 10:25

As the currency weakened and rates plummeted, silver prices remained constant. Against other major currencies, the U.S. dollar declined somewhat. In the wake of the FOMC meeting, benchmark rates decreased because the Fed was less aggressive than the market had anticipated. After yesterday's 23-basis-point increase, the ten-year yield dropped below 3 percent.

 

Gold prices rose as the currency weakened. Given that tomorrow's US inflation report could affect the Fed's monetary policy, investors bought gold. Oil prices remain under pressure due to China's restrictions and a rising dollar, which has made oil more expensive for holders of other currencies.

 

As a result of Eastern European requests for exemptions and concessions, the oil embargo against Russia has been delayed.

 

The NFIB Small Business Economic Trends index remained unchanged from the prior month at 93.2. This indicator of small company confidence in the United States was below the 48-year average of 98.

 

This information indicates that small enterprises are struggling to combat rising inflationary pressures. Small enterprises face increased labor expenses and a labor scarcity, which exacerbates their economic difficulties.

 

Wednesday's announcement of inflation data will certainly influence the Fed's policy decision at the next meeting.

Technical Evaluation

The price of silver remains below $22. A sustained breach below the $22 level will indicate further fall and favor bearish traders in the AG/USD market. Additional selling might cause silver to hit the December bottom around $21.40.

 

The metal is likely to experience further declines near the $21 level and approach the $20 psychological threshold.

 

Near the December 15th low of 21.49 is support. Near the 10-day moving average near the 10-day moving average of 22.57, there is observed resistance. The short-term momentum is negative as the fast stochastic signaled a sell crossover.

 

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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