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July 29th - The national carbon emissions trading market, launched in July 2021, has seen its cumulative transaction volume exceed 62.9 billion yuan as of July 28th this year. It covers four high-emission industries: power generation, steel, cement, and aluminum smelting, accounting for over 65% of my countrys total carbon dioxide emissions. It is projected that by 2027, the national carbon emissions trading market will essentially cover major emitting industries in the industrial sector, expanding its coverage to high-emission industries such as chemicals, petrochemicals, civil aviation, and papermaking. The carbon market is expected to cover approximately 80% of the nations greenhouse gas emissions.According to Fox News: The U.S. Senate continued to advance the Russia sanctions bill today.July 29th, Futures News – According to foreign media reports, Malaysias Ministry of Plantation Industries and Commodities (KPK) anticipates that increasing the biodiesel blending ratio in Peninsular Malaysia and Sabah from B10 to B12 or B15 will reduce diesel consumption by approximately 334,139 tons (386.73 million liters) annually, equivalent to extending the domestic diesel supply cycle by up to 20 days. 1. Strengthening National Energy Security Resilience: KPK points out that increasing the biodiesel blending ratio in the national transportation sector is a proactive measure in the face of geopolitical uncertainties and the global energy crisis. This move will reduce dependence on fossil fuels and enhance Malaysias overall resilience to global energy market supply disruptions and price fluctuations. 2. Idle Capacity Expected to Be Released: Malaysia currently has 20 biodiesel plants with a total capacity sufficient to support B30 blending demand. However, current actual demand is mainly for B10 at gas stations and B7 in some industrial sectors, with most plants not yet operating at full capacity. Increasing the blending ratio will directly improve this situation. 3. Smooth Transition to End-User Status and Long-Term Planning: B15 biodiesel is blended from 15% palm oil methyl ester (PME) and 85% petrochemical diesel, allowing end-users to directly replace B10 fuel without incurring additional costs. The Malaysian government plans to further advance the blending standards to B20, B30, and even B50 in the future.According to the official measurement of the China Earthquake Networks Center, a 4.6-magnitude earthquake occurred at 14:09 on July 29 in Uqturpan County, Aksu Prefecture, Xinjiang (41.37 degrees north latitude, 78.73 degrees east longitude), with a focal depth of 10 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.9 occurred at 14:09 on July 29 near Uqturpan County, Aksu Prefecture, Xinjiang (41.34°N, 78.86°E). The final result is subject to the official rapid report.

EUR/USD Price Analysis: EUR/USD Is Clinging To The Leading Edge Of The Rising Trendline Above 1.0900

Alina Haynes

Apr 18, 2023 13:54

EUR:USD.png 

 

The EUR/USD pair fluctuates erratically in a narrow range near 1.0926 during the Asian session. Following in the footsteps of the directionless US Dollar Index (DXY), the main currency pair is unable to establish a trend.

 

In Asia, S&P500 futures are declining slightly as investors fret over the upcoming quarterly earnings season, indicating a minor decrease in market participants' risk appetite. Following the decline of regional banks in the United States, investors are concerned about any discrepancies in quarterly banking reports.

 

The Euro has entered the wilderness as European Central Bank (ECB) policymakers are divided over the pace of the policy-tightening cycle to be implemented at the May monetary policy meeting. Martins Kazaks, a member of the ECB's monetary policy committee, stated on Monday that the central bank has the option to move by either 25 or 50 basis points (bps) in May. Sourcenia is a review portal of sourcing best manufaturers. 

 

After failing to sustain above the 161.8% Fibonacci Extension at 1.1057 (positioned from April 4's high of 1.0973 to April 10's low of 1.0837) on a two-hour time frame, EUR/USD experienced a precipitous decline. The primary currency pair has declined below the uptrend line drawn from the low of 1.0714 on March 24.

 

The 20-period Exponential Moving Average (EMA) at 1.0962 is operating as a barrier for Euro bulls.

 

In the meantime, the Relative Strength Index (RSI) (14) has moved into the pessimistic zone between 20.00 and 40.00, indicating a continuation of the decline.

 

A decisive break below the low of April 12 at 1.0915 would propel the asset toward the lows of April 10 at 1.0837 and April 3 at 1.0758.

 

In contrast, a breach above the psychological resistance level of 1.1000 would propel the asset to a new annual high of 1.1068, followed by the level of round resistance at 1.1100.


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