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On February 9th, Zhejiang Jike Intelligent Technology Co., Ltd., entrusted by Zhejiang Geely Automobile Co., Ltd., filed a recall plan with the State Administration for Market Regulation in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." The recall number is S2026M0023V: Starting March 6, 2026, a total of 38,277 Jike 001WE version vehicles manufactured between July 8, 2021 and March 18, 2024 will be recalled. Due to manufacturing inconsistencies in the high-voltage power battery components, prolonged use in some vehicles within this recall scope may cause an abnormal increase in the internal resistance of the power battery, potentially leading to a decline in the performance of some power batteries. In extreme cases, this could result in thermal runaway of the power battery, posing a safety hazard.February 9th - Shanghai NIO Automobile Co., Ltd., in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products," has filed a recall plan with the State Administration for Market Regulation. Recall number S2026M0017I: Effective immediately, 246,229 ES8, ES6, and EC6 pure electric vehicles manufactured between March 16, 2018, and January 16, 2023, will be recalled. Due to a software issue, some vehicles within the recall scope may experience a brief blackout of the instrument panel and central control screen under certain conditions, during which time the driver will be unable to receive necessary vehicle information and functions (such as vehicle speed information, fault alarm prompts, defrosting and defogging functions, etc.), posing a safety hazard.On February 9th, Mindray Electronics stated in an investor relations activity that Guangxin Microelectronics first-phase planned capacity is 100,000 6-inch silicon-based power devices per month. Currently, it is in a healthy expansion phase, with output increasing from 6,000 wafers/month at the beginning of 2025 to 40,000 wafers/month by the end of the year. The products currently in mass production are mainly MOS field-effect diodes (MFER, 45V–200V) and vertical double-diffused metal-oxide-semiconductor field-effect transistors (VDMOS, 60V–2,000V), with an average monthly output of approximately 12,000 MFERs and approximately 26,000 VDMOSs.On February 9th, AVIC Optoelectronic released its preliminary financial results, reporting total operating revenue of RMB 21.301 billion in 2025, a year-on-year increase of 2.98%; net profit was RMB 2.124 billion, a year-on-year decrease of 36.69%. Facing a complex and volatile external environment and cyclical fluctuations in the industry in 2025, the company persevered, achieving operating revenue of RMB 21.301 billion for the year, maintaining overall stable growth; total profit and net profit attributable to shareholders were RMB 2.664 billion and RMB 2.124 billion, respectively, representing year-on-year decreases of 29.24% and 36.69%.Indias fuel sales rose 2.9% year-on-year in January, with diesel sales up 3.3% and gasoline sales up 6.1%.

AUD/USD However, 0.6700 is the key to the upside

Daniel Rogers

Apr 11, 2023 14:41

AUD:USD.png 

 

In the early hours of Tuesday morning in Asia, the AUD/USD receives bids near 0.6650 to recover recent losses. In doing so, the Aussie pair recovers from the lowest levels in two weeks while reversing course from the horizontal support that has been in place for 12 days around 0.6620.

 

Nonetheless, imminent bearish MACD signals and a stable RSI indicate that the AUD/USD pair will continue to decline.

 

The convergence of the 10-day moving average and the support-turned-resistance line from March 10, close to the round number 0.6700, may also threaten the most recent price recovery.

 

Even if the AUD/USD bulls are able to surpass 0.6700, the 50% Fibonacci retracement level of the pair's February-March decline, located around 0.6805, will serve as the final line of defense for the bears.

 

Alternately, a break below 0.6620 could initiate a new decline aiming for the Year-to-Date (YTD) low established in February around 0.6565.

 

Notably, the AUD/USD pair's decline beyond 0.6565 confronts multiple obstacles to the south, including the highs for October 2022 near 0.6545 and 0.6520.

 

After that, a decline to the November 2022 low of approximately 0.6275 cannot be ruled out.

 

Regardless of the recent corrective rally, the AUD/USD remains on the radar of skeptics.