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February 11th - According to foreign media reports, Song Jae-hyuk, President and Chief Technology Officer of Samsung Electronics chip business, stated on Wednesday that Samsung Electronics has returned to the top of the memory industry thanks to its next-generation HBM4 technology, a statement that reversed the companys stock price decline. Song made this unusually firm statement at SemiconKorea in Seoul. Previously, a Samsung executive publicly supported the "Samsung comeback" in January, further reinforcing market expectations that Samsungs next-generation HBM technology would be adopted by AI chip leader Nvidia. Samsung plans to begin mass production of HBM4 this month, with Nvidia expected to be its first customer.On February 11th, according to Futures News, the overnight SHIBOR was 1.3660%, up 0.40 basis points; the 7-day SHIBOR was 1.5230%, down 0.80 basis points; the 14-day SHIBOR was 1.6000%, down 0.40 basis points; the 1-month SHIBOR was 1.5511%, up 0.01 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.The main palladium futures contract rose by 2.00% intraday, currently trading at 440.50 yuan/gram.February 11th - At a regular press conference held by the Taiwan Affairs Office of the State Council on February 11th, a reporter asked: "Recently, the Taiwan Coast Guard announced that it will carry out so-called security maintenance work during the Spring Festival. What is your comment on this?" Spokesperson Zhu Fenglian stated that the Spring Festival is the most important traditional festival for the Chinese nation. If the DPP authorities dare to provoke trouble unnecessarily during this peaceful festival, they must bear all the consequences.February 11th, Futures News: According to the official WeChat account of Tsingshan Industrial Group, 1. Cooperation Overview: Tsingshan Industrial Group and the government of Madagascar signed a memorandum of understanding on a mining and green industry park project. Both parties will jointly explore the investment and construction of a large-scale comprehensive park integrating mineral development, processing and transformation, green industries, and supporting infrastructure, based on Madagascars advantageous mineral resources. 2. Construction Plan: The project plans to include the construction of key infrastructure such as its own port, highways, and airport, aiming to promote the extension of the mineral resource industrial chain and the enhancement of added value locally, thereby promoting industrialization and regional economic development. 3. Official Support: Madagascars President Michael Landrianilina stated that the project aligns with the national industrialization development strategy. Madagascar has established a high-level ministerial joint mechanism to conduct in-depth discussions and feasibility studies with Tsingshan on mineral resource policies, legal frameworks, land supply, and environmental assessments.

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.