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Pfizer announced that the Talzenna study met its primary endpoint.In one study, Eli Lillys (LLY.N) diabetes injection caused subjects to lose an average of 15.3% of their body weight.On March 19th, it was announced at a press conference held by the General Administration of Customs that, in order to further improve the level of supervision over imported food safety and facilitate trade in imported food, the General Administration of Customs recently revised and issued the "Regulations on the Registration Management of Overseas Production Enterprises of Imported Food of the Peoples Republic of China" and supporting implementation announcements. The relevant policies and measures will officially take effect on June 1, 2026. Li Jinsong, Director of the Import and Export Food Safety Bureau of the General Administration of Customs, stated that the new regulations place greater emphasis on implementing the "strictest standards" for food safety, strengthening source management and full-process supervision. At the same time, they fully consider the continuity with existing registration systems; currently registered enterprises worldwide will not only be unaffected in their imported food trade but will also receive greater convenience through the new regulations. Specifically, for registered enterprises other than those producing meat and meat products and birds nest and birds nest products, the validity period will be automatically renewed upon expiration.Libyas National Oil Corporation (NOC) said the fire at the Sharara oil field pipeline has been extinguished.March 19th - Fuel shortages are emerging in cities and rural areas across Japan, impacting everything from public transportation to agricultural production. The situation is exacerbated by the growing chaos caused by the war in Iran, which is permeating daily life. The import-dependent country relies almost entirely on Middle Eastern oil supplies, and the de facto closure of the Strait of Hormuz has had a particularly severe impact. Major refiner Idmitskovsan began reducing supplies to customers this week, and gasoline prices in the country surged 18% in the past week, reaching their highest level on record in 36 years. Some farmers have reported difficulty obtaining diesel fuel for tractors and other equipment before the planting season, which typically begins in April. Dealers have therefore limited sales and are seeking alternative sources of supply. Several suppliers have stated they have no inventory available for delivery.

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%.