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September 19th - According to the China State Railway Group Co., Ltd., from January to August, the national railway system transported 3.32 billion passengers, a year-on-year increase of 3.9%, setting a new record for the same period. The national railway transportation remained safe, stable, and orderly. Since the beginning of this year, the railway department has coordinated high-speed and conventional railway resources, with an average of 11,508 passenger trains operating daily nationwide, a year-on-year increase of 5.0%. Regarding cross-border passenger transport, the Guangzhou-Shenzhen-Hong Kong High-Speed Railway transported 23.408 million cross-border passengers, a year-on-year increase of 10.7%, while the China-Laos Railway transported 245,000 cross-border passengers, a year-on-year increase of 39.1%.On September 19, it was learned from the Beijing Municipal Administration for Market Regulation that, in accordance with the work deployment of the State Administration for Market Regulation and the results of preliminary investigations, and based on the provisions of the Anti-Unfair Competition Law of the Peoples Republic of China and the E-commerce Law of the Peoples Republic of China, the Beijing Municipal Administration for Market Regulation has initiated investigations into Hangzhou Taomei Aviation Service Co., Ltd., Tongcheng Network Technology Co., Ltd., Tujia Online Information Technology (Tianjin) Co., Ltd., and Beijing Sankuai Information Technology Co., Ltd. for suspected illegal activities.On September 19th, Gong Jinfeng, General Manager of China Automotive Technology and Research Center Co., Ltd., stated at the 2026 China Automotive Industry Development (TEDA) International Forum that the automotive industry, as a core area of technological competition and industrial rivalry among major powers, is facing a profound adjustment in the global competitive landscape. Technological barriers, rule-based competition, and standards battles have become the core forms of industrial competition among major powers. In light of the current industry development situation, Gong Jinfeng offered several suggestions: First, focus on core technologies for intelligent connected new energy vehicles, continuously consolidate the leading advantages in industrial development, seize the opportunities presented by the "dual-carbon" strategy and the development of the digital economy, and strengthen collaborative innovation between industry, academia, and research. Second, deepen cross-sectoral integration and development, fully leverage the role of government-enterprise collaboration, deepen the pilot work on the access and passage of intelligent connected vehicles, support the large-scale and commercial application of vehicles with L3 and above autonomous driving capabilities, and promote the deep integration of the automotive industry with artificial intelligence and other related fields.Conflict Updates: 1. The death toll from the bombing attack in northwestern Pakistan has risen to 21. 2. Yemeni government military: Armed Forces artillery destroyed nine Houthi combat vehicles on the western front in Marib, killing all those on board. 3. According to NewsNation: US President Trump stated that regarding whether or not Iran will be "destroyed," "well wait and see." 4. Saudi Civil Defense previously issued alerts for Jeddah, Taif, Al-Ulah, Yanbu, and Khamis Mushait, which were subsequently lifted. Other Updates: 1. US President Trump signed sanctions legislation targeting Russia and Iran. 2. US President Trump, speaking about Iran, said, "The war will be over soon." 3. The Pakistani military stated it will support Saudi Arabia "at all costs." 4. According to multiple Middle Eastern media reports, Pakistans Interior Minister will travel to Tehran this week. 5. According to NewsNation: US President Trump stated that the US is negotiating with the Houthis, and the Houthis also hope to reach an agreement. 6. According to CBS: Data shows that Saudi Arabias exports through the Bab el-Mandeb Strait remain sluggish, with weekly traffic since early August less than a third of the seven-day average this year. 7. According to Punchbowl: The latest estimates submitted by U.S. Central Command to the Congressional Defense Committee show that as of September 3, the cost of U.S. military operations against Iran has reached $43.6 billion. 8. According to the Washington Post: The number of U.S. military personnel killed in the war with Iran exceeds the number publicly disclosed by the Pentagon. 9. Due to the shutdown of Saudi Arabias East-West oil pipeline, the North Sea crude oil spot premium has surged to a record level.On September 19, the U.S. State Department announced on September 18 that it had approved a $2.68 billion arms sale to Ukraine, providing equipment and services related to the development and upgrading of its air defense systems, and had notified Congress of this. The State Department stated that this arms sale will further enhance Ukraines air defense capabilities.

Price Analysis: AUD/USD Advances Toward 0.6740 Ahead Of PBoC's Decision

Alina Haynes

Apr 19, 2023 16:00

AUD:USD.png 

 

The AUD/USD pair strengthened to near 0.6740 after a gradual retracement. In light of the weakening U.S. dollar and the upward revision of China's growth rate forecast, the demand for Australian dollars was exceptional. The US Dollar Index (DXY) is exhibiting a dearth of volatility prior to the release of the Federal Reserve's (Fed) Beige Book.

 

The Australian Dollar remained active on Tuesday after the Reserve Bank of Australia (RBA) minutes were released. The RBA minutes revealed that policymakers actively debated a rate hike, but ultimately decided to maintain the current 3.6% rate. Philip Lowe, the governor of the Reserve Bank of Australia, stated that the central bank needs more time to compile information prior to taking action.

 

After a robust quarterly performance, forecasting agencies were enthusiastic about increasing their projections for China's Gross Domestic Product (GDP). In the future, the People's Bank of China's (PBOC) interest rate determination will be the primary event. Australia is China's greatest trading partner, and optimistic economic forecasts from China would benefit the Australian Dollar.

 

The AUD/USD exchange rate is exhibiting an Inverted Flag pattern on an hourly time frame. The Inverted Flag is a trend-following pattern that consists of a protracted consolidation followed by a decline. Participants prefer to enter an auction after a bearish bias has been established, and current vendors increase their position size during the consolidation phase of a chart pattern.

 

The 20-period Exponential Moving Average (EMA) is superimposed on the price of the asset at 0.6720, indicating lackluster performance.

 

Currently, the Relative Strength Index (RSI) (14) fluctuates between 40.00 and 60.00, indicating the absence of a possible trigger.

 

A future break above the March 22 high of 0.6759 will propel the asset toward the April 3 high of 0.6693. A breach above the latter would cause the asset to reach a new low on February 6 of 0.6855.

 

A breach of the April 10 low at 0.6620 would expose the Australian dollar to the March 10 low at 0.6564, followed by the round-number support at 0.6500, according to an alternative scenario.


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