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On December 31st, Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics, interpreted the December 2025 China Purchasing Managers Index (PMI). She stated that in December, the Manufacturing PMI, Non-Manufacturing Business Activity Index, and Composite PMI Output Index were 50.1%, 50.2%, and 50.7% respectively, up 0.9, 0.7, and 1.0 percentage points from the previous month. All three indices rose into expansion territory, indicating an overall recovery in my countrys economic activity. Notably, the Manufacturing PMI reached 50.1%, the first time it had risen into expansion territory since April. Of the 21 industries surveyed, 16 saw an increase in their PMI compared to the previous month, indicating improved production and operations for related enterprises.On December 31, the U.S. Treasury Department announced on December 30 that it had lifted sanctions against Alexandra Briko, former chief financial officer of Sberbank, Russias largest state-owned commercial bank. In February 2022, Russia announced special military action against Ukraine; in April of the same year, the United States announced sanctions against Sberbank and other entities and individuals.On December 31st, a research report from CITIC Securities stated that the digital yuan is upgrading from a "central bank liability" 1.0 model, replacing cash, to a "deposit-based money" 2.0 model, integrated into the commercial bank liability system. Its accounts can accrue interest and are subject to reserve requirements, effectively becoming general deposits. This institutional adjustment helps solidify the stability of bank liabilities and strengthens the transmission efficiency of monetary policy under the reserve and interest rate framework, while significantly enhancing the intrinsic incentive for commercial banks to promote the digital yuan. From an industry perspective, the digital yuan is expected to become an important tool for linking corporate and retail banking, and will provide some substitution for third-party platforms in the payment process. It is anticipated that the focus of banks digital yuan business development will shift from qualifications to capabilities, requiring banks to accelerate the transition from account operations to scenario-based and professional services, seizing the opportunity presented by the increasing penetration rate of the digital yuan.The National Bureau of Statistics reported that the new orders index for December was 47.3%, up 1.6 percentage points from the previous month, indicating a slight recovery in market demand in the non-manufacturing sector. By industry, the new orders index for the construction industry was 47.4%, up 1.3 percentage points from the previous month; the new orders index for the service industry was 47.3%, up 1.7 percentage points from the previous month.The National Bureau of Statistics reported that the production index for December was 51.7%, up 1.7 percentage points from the previous month, indicating that production activities in manufacturing enterprises accelerated.

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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