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European Council President Costa: The US unilateral decision to lift sanctions on Russian oil exports is deeply worrying because it affects European security. Applying greater economic pressure on Russia is crucial to getting it to accept serious negotiations for a just and lasting peace. Easing sanctions would increase Russias resources for its aggressive war against Ukraine.On March 13, the Party Committee of the General Administration of Customs held an enlarged meeting to study and implement the spirit of General Secretary Xi Jinpings important speech and the spirit of the National Peoples Congress and the Chinese Peoples Political Consultative Conference. The meeting emphasized the need to earnestly implement the important deployments of the Government Work Report and the 15th Five-Year Plan, to formulate and implement the 15th Five-Year Plan for Customs Development and the Port Modernization Plan with high quality, and to promote the implementation of various tasks. It stressed the importance of promoting the development of new productive forces tailored to local conditions, improving the level of intelligent supervision, credit supervision, and trend-based supervision, enhancing the competitiveness of the industrial chain and supply chain, and contributing to the construction of a modern industrial system. The meeting also emphasized the need to vigorously promote the stabilization and optimization of foreign trade, to carry out a new round of special actions to facilitate cross-border trade, and to support the development of new business forms and models such as intermediate goods trade, cross-border e-commerce, and overseas warehouses. Finally, the meeting stressed the need to expand independent opening-up, to deeply align with high-standard international economic and trade rules, to solidly advance the construction of the Hainan Free Trade Port, to accelerate the transformation and upgrading of comprehensive bonded zones, and to create more high-level platforms for opening-up.A spokesperson for the European Commission stated that the Commission fully supports Polands plan and looks forward to its implementation.On March 13, the Environmental Resources and Food and Drug Crime Investigation Bureau of the Ministry of Public Security deployed a campaign to severely crack down on crimes involving the illegal manufacture, sale, and use of prohibited and restricted pesticides. The bureau required local public security organs environmental, food, and drug crime investigation departments to adhere to the people-centered development philosophy, strengthen their sense of responsibility, focus on key tasks, and severely crack down on all types of pesticide-related crimes during the spring plowing and planting season, given the concentrated agricultural input production and storage activities. This is to effectively safeguard agricultural safety and build a solid food safety defense line "from farm to table."European Commission spokesperson: European security cannot be achieved without Polands participation.

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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