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February 26 – The Ministry of Commerce held a regular press conference on February 26. In response to a question regarding export controls on Japan, Ministry of Commerce spokesperson He Yongqian stated that Chinas legally mandated list of export controls targets only a small number of Japanese entities, and the measures only apply to dual-use items. They do not affect normal Sino-Japanese economic and trade exchanges, and law-abiding Japanese entities have no need to worry.February 26th - The State Administration for Market Regulation released data today (February 26th) showing that 25.745 million new business entities were established nationwide in 2025. Among them, 9.5 million were newly established enterprises and 16.194 million were newly established individual businesses. Business entities are showing a trend towards innovation and excellence, accumulating momentum for high-quality development. Enterprises related to emerging and future industries are experiencing rapid growth and strong innovation capabilities. In 2025, 1.134 million new enterprises were established nationwide related to the "8 emerging industries + 9 future industries," an increase of 9.9% over the previous year. Among them, humanoid robots, civil aviation, and generative artificial intelligence, among other cutting-edge fields, led the growth, further propelling my countrys industrial system towards the high end of the global value chain.On Thursday, February 26, the Shanghai Gold Exchanges gold T+D contract closed down 0.24% at 1143.0 yuan/gram; the Shanghai Gold Exchanges silver T+D contract closed down 1.13% at 21600.0 yuan/kilogram.February 26 – Indian market regulators have allowed the countrys $384 billion actively managed equity funds to allocate more funds to gold and silver, giving them greater flexibility amid rising global demand for physical assets. Under revised rules from the Securities and Exchange Board of India (SEC), equity funds can invest the remainder of their portfolios (up to 35% of assets) in gold and silver instruments, as well as shares of infrastructure investment trusts (ITTs). By expanding the list of permissible assets, the regulator provides equity funds with a wider range of investment vehicles, which already included money market instruments and other liquid securities. This adjustment is also likely to create new sources of demand for gold and silver. In January, local investors poured more money into gold ETFs than into equity funds, a rare reversal that highlights the growing appeal of gold amid market uncertainty.February 26 – On February 26, Foreign Ministry Spokesperson Mao Ning hosted a regular press conference. A Yonhap News Agency reporter asked: North Korean Workers Party General Secretary Kim Jong Un recently stated that if the United States recognizes North Koreas nuclear-armed status and withdraws its hostile policy towards North Korea, North Korea has no reason not to maintain friendly relations with the United States; however, he called South Koreas recent conciliatory stance a "deception and clumsy trick" and expressed his unwillingness to engage in dialogue. What is Chinas comment on this? "As a close neighbor of the Korean Peninsula, China is concerned about the development and evolution of the situation on the peninsula. Maintaining peace and stability on the peninsula and promoting the political settlement of the peninsula issue are in the interests of all parties, and we hope that all parties will work together to achieve this," Mao Ning said.

After Reaching a 20-year High in June, the US Dollar Index Falls

Alina Haynes

May 09, 2022 10:36

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After reaching a 20-year high versus a basket of major currencies earlier in the session, the U.S. Dollar is now inching lower late Friday afternoon. Price movement is driven by concerns about a worldwide recession and predictions that the Federal Reserve will tighten monetary policy more quickly than its peers to combat excessive inflation.

 

Futures on the U.S. Dollar Index for June are trading at 103.690, down 0.112, or -0.11 percent, as of 20:00 GMT. The Invesco DB US Dollar Index Bullish Fund ETF (UUP) ended the trading session at $27.71, up $0.05, or +0.18 percent.

 

Late in the session, the U.S. Dollar is 0.07 percent weaker against the Euro. The British Pound is inching down after falling below $1.2300 for the first time in over two years, a day after the Bank of England issued a stern warning that Britain faces the double whammy of a recession and inflation exceeding 10 percent. The BoE also followed the Fed in boosting interest rates, increasing them by a quarter-point to 1 percent.

Technical Analysis of Daily Swing Chart

The daily swing chart indicates that the primary trend is upward. A breach of the intraday peak at 104.105 will indicate a resumption of the uptrend. A breach of 102.375 will reverse the trend to the downside.

 

The range of the minor is 102.375 to 104.105. The 50 percent level is support at 103.240.

 

Short-term range is between 99.810 and 104.105. If the primary trend shifts to the downside, look for the selling to reach its 50 percent mark around 101.958.

Short-Term Prognosis

The path of the U.S. Dollar Index for June will likely be determined by traders up until 103.800 on Friday.

 

The presence of buyers will be shown by a prolonged advance over 103.800. A breach of 104.105 would imply that purchasing is gaining strength. This may cause an acceleration to the upward without a specific target at this time.

 

A prolonged move below 103.800 will indicate weakness heading into the close. The initial negative objective is the pivot level at 103.240. This is a probable trigger point for a speed-up into the major bottom at 102.

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