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August 27 - The China Earthquake Networks Center officially measured a 5.3-magnitude earthquake in Colombia (6.75 degrees north latitude, 73.08 degrees west longitude) at 00:45 on August 27, with a focal depth of 150 kilometers.On August 27th, Anthropic reported that it has agreed to pay Nscale $45 billion over the next six years to lease approximately 460 megawatts of AI computing power from Nscales Monarch data center in West Virginia. According to sources, Nscale will use NVIDIAs (NVDA.O.) Vera Rubin chips, with deployment expected by the end of next year. The entire Monarch campus has a planned capacity of approximately 1.35 gigawatts and a total investment of approximately $71 billion, with about $47 billion allocated to AI chips. The remaining buildings will begin providing computing power in 2028. The project was originally planned to be leased by Microsoft, but Microsoft withdrew this summer, and Anthropic subsequently became the tenant. In recent months, Anthropic has also reached computing power agreements with Fluidstack, Volta Infra, and SpaceX for $50 billion, $10 billion, and $45 billion respectively, further securing computing resources ahead of its IPO.The Russian Ministry of Defense stated that Russian air defense systems shot down 51 Ukrainian drones in a single day over multiple regions of Russia and the Black Sea.On August 27, US President Trump confirmed on the 26th that CIA Director Ratcliffe had recently visited Russia, saying the visit "may have some results," but did not elaborate further. In a radio interview that day, Trump called Ratcliffes visit "somewhat routine." He then hinted that Ratcliffes visit was related to the Russia-Ukraine conflict, saying, "We are working to bring an end to the war, and both sides want to see it end."On August 27th, IDC reported that Apples (AAPL.O) first foldable iPhone, launching in September, is expected to ship over 10 million units in its first year, despite a potential price tag of $2,500, driving renewed growth in the foldable phone market. IDC projects global foldable phone shipments will grow by 12.6% this year and 18% next year, with Apple accounting for 40% of global foldable phone shipments by 2027. Meanwhile, due to rising prices and supply constraints of components such as memory chips, IDC predicts a record 16.7% contraction in the global smartphone market this year, stating that "the era of cheap smartphones is over."

Volatility subsides around 101.80 as focus shifts to US S&P PMI in US Dollar Index Price Analysis

Alina Haynes

Apr 21, 2023 14:03

US Dollar Index.png 

 

The US Dollar Index (DXY) has prolonged its correction after falling below immediate support at 101.80 during the Asian session. Following the release of more-than-anticipated Initial Jobless Claims for the week ending April 14 and a lackluster Philadelphia Fed Manufacturing Survey (April), the USD Index fluctuated erratically on Thursday.

 

The US Department of Labor reported that unemployment claims exceeded expectations for the eleventh consecutive week. The economic data revealed that 245K unemployed people filed for unemployment benefits, exceeding both the consensus estimate and the previous figure of 240K.

 

Due to the Federal Reserve's (Fed) decision to increase interest rates, labor market conditions are undeniably and persistently deteriorating. Despite this, the market continues to anticipate a 25 basis point (bp) rate hike. According to CME Fedwatch, over 85 percent of probabilities favor interest rates above 5 percent.

 

In the interim, three consecutive bearish trading sessions on the S&P 500 suggest that investors have supported the risk aversion theme. The yield on 10-year US Treasury bonds has dropped below 3.54 percent. Sourcenia is a review portal of sourcing best manufaturers. 

 

On a two-hour time frame, the USD Index is consolidating in a wide range between 101.63 and 102.23, indicating the absence of a significant catalyst. After the release of preliminary S&P PMI data for the United States, a power-pack action is anticipated. It is anticipated that the Manufacturing PMI will register 49.0, a decrease from the previous release of 49.9. The Services PMI is expected to fall to 51.5 from the previously reported 52.6.

 

At 101.85, the 20-period Exponential Moving Average (EMA) intersects with the asset price, indicating a significant decrease in volatility.

 

In addition, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that investors are waiting for a decisive catalyst.

 

If the asset breaks decisively above the April 17 high of 102.23, investors will push the asset toward the April 10 and March 24 potential resistance levels of 102.76 and 103.36, respectively.

 

Alternately, a breach of the April 5 low of 101.41 would cause the asset to decline to the April 14 low of 100.78. A subsequent decline will reveal psychological support of $100 for the asset.


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