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April 7th - According to China Railway Shanghai Bureau Group Co., Ltd., during the recent Qingming Festival holiday (April 4th to 6th), the Yangtze River Delta railway system transported approximately 12.428 million passengers, averaging 4.143 million passengers per day. This represents an increase of approximately 1.252 million passengers compared to the same period last year, exceeding 11%. Notably, April 4th saw a record high of 4.66 million passengers transported in a single day.April 7th - According to Axios, a US official stated that Irans response was "tough," but the White House views it as a negotiating tactic rather than a rejection. They are currently communicating with the Iranians regarding amendments and redrafting. If Trump believes a deal is possible, he may postpone military action against Iran. Trumps advisors told mediators that the president needs to see positive signs from Iran before considering a delay. One of them said, "We are at a critical moment in negotiations; anything can happen." Two sources indicated that a large-scale US-Israeli bombing plan targeting Iranian energy facilities is ready should Trump issue the order.On April 7th, Michael Wan, senior foreign exchange analyst at MUFG Bank, stated in a research report that shipping volumes through the Strait of Hormuz may be improving. Tankers currently appear to be testing an alternative route that runs close to southern Oman to exit the strait. Furthermore, the analyst stated, "Iran announced last weekend that it would allow Iraq to ship oil through the strait." He added that this could mean an additional 3 million barrels of oil per day entering the market, but "many unknowns" remain regarding how Iran defines "Iraqi oil."On April 7th, Jike Auto announced that the Jike 8X will officially launch at a press conference in Ningbo, China on April 17th at 19:00. At the event, the official price of the Jike 8X will be announced, and pre-sale benefits will end before the price announcement that evening. The Jike 8X will be available in select models and will be delivered immediately upon launch.LG Electronics expects its operating profit for the first quarter to be 1.674 trillion won, up from 1.259 trillion won in the same period last year.

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.


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