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White House spokesperson: The agreement reached with Iran is in the interest of the American people. Iran will never possess nuclear weapons.June 23 – It has recently been learned that relevant departments have formulated a special policy to support the export of digital culture, covering online literature, online dramas, online games, animation, and digital music. The policy is currently open for public comment. In recent years, digital cultural products such as online literature, online dramas, and online games have created a "China whirlwind" globally, becoming a new engine for cultural consumption and cultural exports. The "content + platform + model" model is accelerating its overseas expansion. From January to April this year, my countrys service trade exports grew by 15%, with personal cultural and entertainment services growing by a remarkable 39.5%. Driven by policy support and industrial development, the international competitiveness of "Chinese services" continues to improve.Japanese Chief Cabinet Secretary Minoru Kihara was aware of the meeting between Finance Minister Satsuki Katayama and U.S. Treasury Secretary Bessenter; however, he declined to comment further.June 23 (KCNA) – The 2nd Enlarged Plenary Session of the 9th Central Committee of the Workers Party of Korea was held from June 20 to 22. At the meeting, Kim Jong Un, General Secretary of the Workers Party of Korea, pointed out that the actions of the US and South Korea this year have seriously deteriorated the situation on the Korean Peninsula, and North Korea will further strengthen its defense capabilities. Kim Jong Un said that since the beginning of this year, the US and South Korea have increasingly promoted activities such as increasing troop deployments in the region, even advancing South Koreas nuclear submarine program, and holding another "Nuclear Consultation Group meeting," all of which have seriously worsened the situation on the Korean Peninsula. Kim Jong Un emphasized the need to accelerate the construction of a 10,000-ton strategic missile cruiser and to focus on the research and production of conventional weapons that are of great significance to enhancing the combat capabilities of the North Korean military. He also pointed out the need to complete the ongoing fortification project on the southern border with high quality and to build a new naval fleet base to strengthen defense capabilities.Japanese Chief Cabinet Secretary Minoru Kihara: No comment on exchange rates.

Prediction of Silver Price - Silver prices maintained their uptrend due to a lower currency and decreasing yields

Daniel Rogers

May 25, 2022 10:00

As investors continue to harbor inflationary concerns, silver prices increased. On Tuesday, gold prices increased further as the US dollar fell to a one-month low. The dollar's decline from multi-year highs has persisted.

 

In the market, aggressive Fed tightening has already been priced in. Today, benchmark rates declined as the stock market sell-off from the previous week resumed. Today, the yield on ten-year bonds fell by 12 basis points and traded above a level not seen since late 2018. Oil prices increased due to fears of a supply shortage.

 

The European Union is negotiating a ban on oil imports from Russia. An embargo will likely mitigate the effect of the lifting of limitations in China and the increase in US oil production on the growth of demand.

 

The US Flash Manufacturing PMI for the month of May came in at 57.5, while the Dow Jones forecast was for 57.4. However, the US Flash Services PMI came in at 53.5, 1.5 points lower than anticipated.

 

These important economic indicators indicate that rising inflation has had a negative impact on supply and demand for goods and services. Fed Chair Powell is scheduled to talk today and will likely reiterate the Fed's intention to raise interest rates to rein in inflation despite the economy's obvious weakness. 

Technical Evaluation

Maintaining a positive outlook, silver prices remain high and stable at $22 per ounce. The XAG/USD pair maintains its uptrend above the 200-day moving average. A sinking dollar and poor economic data support the precious metal's bullish trend.

 

Near the 10-day moving average of $21.56 is viewed as support. Near the 200-day moving average of 23.58 is observed to be a region of resistance. The short-term momentum is bullish, since the fast stochastic signaled a buy crossing.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The MACD histogram is moving in a positive direction, indicating an upward trend in price movement.

 

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