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Germanys DAX30 index closed at 23249.58 points, down 85.84 points, or 0.37% on Tuesday, May 6; Britains FTSE 100 index closed at 8599.27 points, up 2.92 points, or 0.03% on Tuesday, May 6; Frances CAC40 index closed at 7699.07 points, down 28.86 points, or 0.37% on Tuesday, May 6; Europes STOXX 50 index closed at 5262.65 points, down 20.40 points, or 0.39% on Tuesday, May 6; Spains IBEX35 index closed at 13527.22 points, up 12.92 points, or 0.10% on Tuesday, May 6; Italys FTSE MIB index closed at 38550.00 points, up 74.45 points, or 0.19% on Tuesday, May 6.Microsoft (MSFT.O) will launch two low-end Surface tablets to spark interest in devices that can use Microsofts artificial intelligence tools and better compete with Apples ultra-thin tablets. The 13-inch Surface Laptop and 12-inch Surface Pro two-in-one tablets will go on sale on Tuesday and will begin shipping to consumers in the United States and some markets on May 20. The Surface Laptop weighs 2.7 pounds, is 0.61 inches thick, has a touch screen, and starts at $899. The Surface Pro weighs 1.5 pounds, is less than a third of an inch thick, and is equipped with the series typical kickstand and front and rear cameras. It starts at $799, and the stylus and snap-on keyboard are sold separately.EU High Representative for Foreign Affairs and Security Policy Kallas: Humanitarian aid (to Gaza) must be restored immediately.The bid-to-cover ratio for the U.S. Treasury bond auction for the six weeks ending May 6 was 2.91, compared with 3.14 in the previous period.On May 6, the European Commission will propose a new sanctions plan against Moscows shadow tanker fleet. The EU is trying to put more pressure on Russia over the Russian-Ukrainian conflict. According to people familiar with the matter, the sanctions proposed by the European Commission will cover 60 individuals and entities and include restrictions on about 150 ships. One of the people familiar with the matter said that this would bring the total number of ships on the list to more than 300. People familiar with the matter said that EU foreign ministers aim to formally adopt the proposed measures before the Brussels meeting on May 20. If adopted, the new measures will be the 17th round of sanctions imposed by the EU since the outbreak of the Russian-Ukrainian conflict in February 2022.

Prediction for Silver Price: XAG/USD falls below $21.60 as USD Index recovers amid global worries

Daniel Rogers

Feb 20, 2023 11:04

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During the Tokyo session, the silver price (XAG/USD) experienced a sharp decline to close to $21.55. The white metal fell like a house of cards as geopolitical tensions intensified the theme of risk aversion. Silver price is predicted to continue its downside momentum as the fears of a comeback in the United States inflation have joined the US-China tensions.

 

The US Dollar Index (DXY) has rallied firmly to approximately 103.70 as the geopolitical tensions-inspired volatility has driven investors to hide behind safe-haven assets. The mood on the market has been dimmed by the US ambassador to China's warnings if Beijing chose to provide lethal military aid to Russia for its invasion of Ukraine. Additionally, three rockets from North Korea on Japan’s Exclusive Economic Zone (EEZ) have poured fuel to the fire.

 

S&P500 futures have extended their losses as the resurgence of inflation fears in the United States has raised warning flags for the upcoming economic recovery. The Federal Reserve (Fed) might continue rising interest rates after a comeback in the prices of goods and services at the factory gates and a revival in consumer spending, expressed by positive Retail Sales statistics. Monday will be a holiday in the United States, so the financial markets will be closed.

 

Thursday's Gross Domestic Product (GDP) report will be closely scrutinized by investors for more advice. It is anticipated that the preliminary annualized GDP for the fourth quarter would remain unchanged at 2.9%.


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