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Bank of Japan Osaka branch governor: If the Middle East conflict continues, the negative impact on economic activity may expand.Bank of Japan Osaka Branch Governor: The Middle East conflict has had a limited impact on economic activity in the western Kinki region so far.April 6th - According to a report by the Brazilian website "Situation for the World" on April 5th, Cuban authorities announced on the 4th that they had completed the unloading of 100,000 tons of crude oil from the Russian-deployed oil tanker "Anatoly Kolodkin" in the Gulf of Matanzas, aiming to alleviate Cubas energy crisis caused by the intensified US blockade. This crude oil will be refined in the coming days to produce gasoline, diesel, and liquefied petroleum gas (LPG), all essential for maintaining basic public services and the national economy. The unloading operation, carried out by the Cuban National Oil Company (PDO), is part of an energy cooperation agreement between Havana and Moscow, aimed at easing Cubas fuel supply shortage. According to Cuban authorities, this crude oil shipment strengthens the strategic relationship between Cuba and Russia and expresses international solidarity in the face of the US blockade.The yield on 40-year Japanese government bonds rose 9 basis points to 3.960%.On April 6th, Saudi Arabia raised its crude oil prices for its main Asian markets by $17 per barrel, a record high premium over the Oman/Dubai average, as Irans near closure of the Strait of Hormuz restricted energy transport in the region and market volatility stemmed from uncertainty over the duration of the conflict. Saudi Aramco has set its official selling price for its Arab Light crude oil to Asia in May at a premium of $19.50 per barrel over the Oman/Dubai average, up $17 per barrel from the previous month.

Predictions for the Silver Market: A Turbulent Time Ahead

Alina Haynes

Jul 22, 2022 14:58

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Silver fell during Thursday's trading session, but it recovered after the European Central Bank raised interest rates, which placed downward pressure on the US dollar. I believe it is only a matter of time until sellers re-enter the market and force this commodity lower since this is a market that continues to witness a lot of noisy activity. However, there are many grounds to believe that silver's value will decline below that of the dollar.

 

Silver's demand is expected to remain weak due to low consumer demand. At this point, I believe it is best to "fade the rise," since it will likely be just a matter of time until sellers re-enter the market. We're probably going to break up soon, and the $20 level above should provide a lot of resistance on the way up.

 

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It's conceivable that sellers will enter the market even if we break over the $20 level, and then the 50 Day EMA will come into play. The 50-day moving average (MA) is currently at $20.73, and it's falling. In the end, I believe that many individuals will rush into this market as soon as it shows indications of tiredness. If the price drops below the hammer's base, it would be reasonable to assume that the $15 support level will be quickly breached.


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