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On August 30th, SK Hynix CEO Guo Luzheng stated that the global memory chip shortage is expected to continue until the end of 2030, while the risk of oversupply is low because in the AI era, memory chips are no longer "simply standardized commodities." Despite market concerns about an AI investment bubble, he said he "sees no" signs of oversupply or a potential memory chip downturn, as demand from AI customers remains strong. He added, "If we pass the AI peak, or if another downturn occurs in the future, challenges may arise. But I think the next downturn will be different from the slumps weve experienced in the past few decades. Even if a downturn comes, I dont think it will be a sharp decline, but rather a slow decrease in demand, and it may even stabilize."On August 30th, according to a report by Axios, citing sources familiar with the matter, CIA Director John Ratcliffe, during a secret visit to Moscow earlier this week, proposed a trilateral summit between US President Donald Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelenskyy to push for an end to the Russia-Ukraine conflict. Sources said that part of Ratcliffes visit was to assess whether the head of Russian intelligence could persuade Putin to return to the US-mediated peace talks between Russia and Ukraine. This marks Ratcliffes first involvement in diplomatic efforts to achieve a breakthrough in Russia-Ukraine relations. The report stated that US officials briefed Zelenskyy on Ratcliffes talks in Moscow on Friday (August 28th) and the proposal for a trilateral summit between the US, Russia, and Ukraine.Conflict Situation: 1. Israel launches attacks in southern Lebanon. 2. Iran claims to have destroyed a US-Israeli "terrorist group" within its territory. 3. Iranian Army Commander-in-Chief: The enemy failed to achieve its war objectives; Iran has won. 4. Palestinian residents attempting to protect their properties are attacked by Israeli settlers. 5. NBC News team is attacked and beaten with sticks by Israeli settlers in the West Bank. 6. Israel Defense Forces: A Noukba company commander and a Hamas sniper are killed in the Gaza Strip. Strait of Hormuz: 1. Irans Deputy Foreign Minister states there is no rush to reopen the Strait of Hormuz. 2. Iran claims the Strait of Hormuz is "completely closed": all transit vessels have received Iranian permission. 3. Bessant claims 130 million barrels of crude oil are being channeled through the strait; Iranian Parliament Speaker: This is a lie. 4. According to Irans Press TV: Security sources indicate that claims about large quantities of oil being transported through the southern route of the Strait of Hormuz are inconsistent with the actual situation. Claims that the US is transporting oil through the southern Strait of Hormuz are part of a US strategy to lower energy prices. Other matters: 1. Iran says US military bases in the region are only for protecting Israel. 2. US Central Command says approximately 50,000 US troops are deployed in the Middle East. 3. The US military plans to punish the sailors who jumped aboard the USS Lincoln. 4. Iranian media: $7.5 billion in oil revenue has been transferred to the Central Bank of Iran. 5. Qatari and Turkish foreign ministers spoke by phone to discuss easing tensions in the Middle East. 6. Iranian Foreign Minister: US government officials are manipulating the energy market for personal gain. 7. US sanctions against Egyptian banks UAE branch; UAE Central Bank to conduct emergency inspection. 8. Israels National Security Agency: Previously, they urgently "rescued" Netanyahus eldest son from the US. 9. US Embassy in Lebanon: Hezbollah continues to refuse to negotiate with the US and Israel on disarmament. 10. Iranian government statement: Iran pledges to resolutely resist US sanctions; diplomacy and defense are "complementary and inseparable."August 30th - A press conference on the "8.26" mudslide disaster in Gyirong, Tibet, was held today (August 30th) in Gyirong Town. On the morning of August 26th, a mudslide on the Nepalese side caused significant casualties and missing persons at the Gyirong Port in Gyirong County, Shigatse City, Tibet. Analysis indicates that the most prominent risk hindering the disaster response was the landslide dam located above the core area of the border crossing. The dam has already overflowed and is currently in stable condition, with a low probability of a complete collapse.On August 30th, a press conference was held in Gyirong Town, Tibet, regarding the "8.26" mudslide disaster. On the morning of August 26th, a mudslide occurred on the Nepalese side, causing significant casualties and missing persons at the Gyirong Port in Gyirong County, Shigatse City, Tibet. The conference explained that this disaster was caused by glacial instability due to long-term climate warming. The disaster was sudden, with a large peak flow, rapid movement, strong destructive power, and a wide impact area, representing a new and significant characteristic of cryosphere disasters in the Qinghai-Tibet Plateau and surrounding areas. Monitoring revealed that the ice avalanche took only about 6 to 7 minutes from its occurrence to its impact on the Gyirong Port in my country.

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.