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The Dow Jones Industrial Average rose 48.95 points, or 0.10%, to close at 49,500.93 on Friday, February 13; the S&P 500 rose 3.41 points, or 0.05%, to close at 6,836.17; and the Nasdaq Composite fell 50.48 points, or 0.22%, to close at 22,546.67.On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with British Foreign Secretary Cooper on the sidelines of the Munich Security Conference on February 13. Wang Yi stated that both China and the UK are major world powers and permanent members of the UN Security Council, each bearing the responsibility of maintaining international peace and security. They should maintain regular exchanges, strengthen strategic coordination and communication, expand common interests, and safeguard world peace and development. Prime Minister Starmer recently made a successful historic visit to China, restarting Sino-British relations. President Xi Jinping and Prime Minister Starmer agreed to develop a long-term, stable, and comprehensive strategic partnership, reaching broad consensus on bilateral and multilateral cooperation, responding to the expectations of all sectors for the stable development of Sino-British relations. Wang Yi said that both sides should implement the consensus reached by the leaders of the two countries, continuously release the positive effects of bilateral relations, and explore more cooperation potential. Both sides should successfully hold the new round of economic and financial dialogue, the Joint Economic and Trade Commission meeting, and the Sino-British Strategic Dialogue, resume normal exchanges between the two countries legislative bodies, and strengthen people-to-people exchanges. China supports free trade and opposes any form of protectionism. We welcome companies from the UK and other countries to invest in China, make good use of platforms such as the China International Import Expo, and expand exports to China. We hope that the UK will provide a fair, just, and non-discriminatory business environment for Chinese companies.On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Austrian Foreign Minister Meiner-Reisinger on the sidelines of the Munich Security Conference on February 13. Wang Yi stated that the world is rapidly changing and should be getting better, not worse. Now is the time for countries to strengthen solidarity and cooperation, to jointly uphold the authority and status of the United Nations, and to practice genuine multilateralism. All countries should work together to build a community with a shared future for mankind. This year marks the 55th anniversary of the establishment of diplomatic relations between China and Austria. Both sides should summarize historical experience, adhere to the positioning of friendly strategic partners, and promote the continuous deepening of bilateral relations on the basis of equality and mutual respect. China is willing to maintain close exchanges at all levels with Austria, strengthen mutually beneficial cooperation, and welcomes Austrian enterprises to seize cooperation opportunities in areas such as the digital economy and future industries, creating new highlights of cooperation. China hopes that Austria will provide a fair, just, and non-discriminatory business environment for Chinese enterprises. China supports strengthened exchanges between cultural institutions and art groups of both countries to better promote mutual understanding. China welcomes Austrian citizens to make good use of the visa-free policy to visit and learn about China.U.S. stocks closed on Friday with the Dow Jones Industrial Average up 0.1%, the S&P 500 up 0.05%, and the Nasdaq Composite down 0.22%. Major tech stocks were mixed: Apple (AAPL.O) fell 2.27%, Nvidia (NVDA.O) fell 2.21%, SanDisk (SNDK.O) fell 0.59%, Oracle (ORCL.N) rose 2.34%, and Qualcomm (QCOM.O) rose 1.61%.February 14th - On the afternoon of the 13th local time, thick smoke was seen billowing from the direction of the Nik López oil refinery in Havana, the capital of Cuba, suspected to be a fire.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.