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UK Maritime Trade Organization: Local authorities report a fire in the engine room of an oil tanker; no environmental impact has been reported yet.On June 11th, the Institute of Industry and Planning of the China Academy of Information and Communications Technology (CAICT), in conjunction with CAICT (Guangdong) Science and Technology Innovation Research Institute Co., Ltd. and the Information Center of Guangxi Zhuang Autonomous Region, officially released the "Research Report on Low-Altitude Economic Data Governance (2026)". The reports core findings point out that systematically promoting low-altitude economic data governance requires building a "five-in-one" working system. First, guided by governance goals, data governance should promote the improvement of low-altitude economic data quality, the safe and orderly conduct of low-altitude flight activities, and the efficient allocation of low-altitude resources. Second, driven by organizational management, a "2+N+X" architecture should be used to achieve collaboration among multiple stakeholders and jointly build a low-altitude economic data governance ecosystem. Third, based on the institutional environment, laws, regulations, policy documents, and standards should play a leading, regulatory, and standardizing role. Fourth, the governance process should be the core, applying artificial intelligence to empower the entire lifecycle of data governance, from data collection, data storage, data processing, data utilization to data decommissioning. Fifth, supported by a technological platform, a "3+1+N+X" platform architecture should be used to achieve unified data governance.Shipping intelligence firm Kpler reports that approximately 96 million barrels of non-Iranian crude oil have been exported via the Strait of Hormuz or the Gulf of Oman since early May. Including cargoes still being loaded, total exports exceed 100 million barrels, roughly consistent with Trumps claim that over 100 million barrels of crude oil entered the global market during this period.On June 11th, Jefferies Global Economist Mohit Kumar stated in a report that the market has fully priced in the European Central Banks (ECB) 25 basis point rate hike tonight, which will be the ECBs only rate hike in this cycle. The next possible window for a rate hike is in September, when new ECB staff forecasts will be released. In an optimistic scenario, the war may have ended and oil prices may be close to $80, reducing the need for further rate hikes. Even in a pessimistic scenario, with the war continuing, oil prices nearing $100, and the European economy approaching or falling into recession, the ECB is unlikely to raise rates consecutively against a backdrop of recession.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.4 occurred near Ruoqiang County, Bayingolin Mongol Autonomous Prefecture, Xinjiang, at 14:29 on June 11. The final result is subject to the official rapid report.

Forecast for Silver Price: XAG/USD is rising quickly and is approaching the $20.00 mark

Alina Haynes

Sep 15, 2022 11:43

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Silver price recovers around the 50-day exponential moving average and advances towards a daily high of $19.69 on Wednesday after the US Labor Department reported that August PPI was in line with predictions of diminishing inflationary pressures on the producer side. Therefore, the XAG/USD is trading at $19.61, 1.86% higher than its initial price.

 

Before Wall Street opened, the Bureau of Labor Statistics (BLS) of the United States reported that the Producer Price Index (PPI) for August decreased by 0.1%, in line with expectations, while the year-over-year figure fell to 8.7%, less than the 9.8% reported in July. Meanwhile, the so-called core PPI, which excludes volatile goods, increased by 0.4% month-over-month and 7.3% year.

 

In the meantime, the US Dollar Index, a measure of the dollar's value against a basket of six currencies, ended Wednesday's session down 0.15 percent, at 109.648, weighed down by US Treasury yields, particularly the 10-year benchmark note rate, which remained unchanged throughout the day at approximately 3.404%.

 

The US Dollar Index reflects the aforementioned by declining by 0.09% and falling below the 110.000 barrier. Similarly, the US 10-year benchmark note rate exhibits signs of weariness, remaining flat at approximately 3.414%.

 

The fact that US 10-year TIPS yields, a proxy for actual yields, rose by only one basis point to 0.939% was a further factor supporting the white metal price.

 

On Thursday, the US economic calendar will contain jobless claims, retail sales, and the New York and Philadelphia Fed Manufacturing Indices, which will serve as a precursor to the ISM report in October.

 

The daily XAG/USD chart depicts the white metal as neutral to bearishly biased. Nonetheless, if silver buyers recapture the $20,000 threshold, this might pave the way for a test of a four-month-old downslope trendline near $20.20 prior to reaching the 100-day EMA at $20.39. A breach of the latter will reveal the cycle high from August 15 at $20.87, ahead of the psychological milestone of $21.00.


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