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On May 6th, it was learned from the Guangzhou Municipal Housing and Urban-Rural Development Bureau that the Guangzhou real estate market saw a significant rebound in activity during the May Day holiday, with both the primary and secondary housing markets showing positive performance, indicating a clear recovery trend. Data shows that from May 1st to 5th, the Guangzhou primary housing market experienced a significant increase in activity, with an average daily visitor count of 8,692 groups, a year-on-year increase of 30.8%, and an average daily purchase volume of 634 units, a year-on-year increase of 50.1%. The secondary housing market maintained steady growth. The average daily number of viewings and purchases during the holiday increased by 15.6% and 5.2% respectively compared to April, with purchases increasing by 63.4% year-on-year, while the number of newly listed secondary homes declined. An official from the Guangzhou Municipal Housing and Urban-Rural Development Bureau stated that on April 30th, Guangzhou released implementation opinions on further promoting the stable and healthy development of the real estate market, proposing multiple measures from aspects such as optimizing the use of housing provident funds and streamlining the replacement chain. The policy benefits have been quickly transmitted, and the market response has been significant.On May 6th, the Ministry of Industry and Information Technology (MIIT) publicly solicited opinions on the "Implementation Plan for Leading the Quality Revolution of Light Industrial Products through Standards Improvement (Draft for Comment)." The draft states that by 2027, the standardization mechanism for light industry will be more complete, with approximately 200 product and method standards to be formulated or revised. Evaluation and review of the implementation of approximately 100 standards will be conducted to improve the adaptability of standards to new products, technologies, and models. Approximately 30 light industry standards will be translated into foreign languages, and the proportion of international standards led by China will increase to approximately 8%, significantly enhancing the international influence of standards. By 2030, a globally leading light industry standard system will be basically established, with more effective standard supply, comprehensively leading the "China Light Industry" brand to a more stable and faster global expansion.French manufacturing output rose 1.6% year-on-year in March, up from 0.80% in the previous month.French manufacturing output rose 1.2% month-on-month in March, compared with 0.00% in the previous month.French industrial production rose 0.9% year-on-year in March, compared with a previous reading of -0.30%.

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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