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ECB Governing Council member Stournaras: There is a high probability of an interest rate hike in June.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Kyrgyz Foreign Minister Kurubayev on the sidelines of the UN Security Council high-level meeting in New York on May 26. Wang Yi thanked Kurubayev for making the special trip to New York to attend the high-level meeting, stating that this not only demonstrated support for Chinas initiatives but also provided a platform for Kyrgyzstan to play its role. China and Kyrgyzstan have always trusted and supported each other. China is willing to work with Kyrgyzstan to fully implement the consensus reached by the two heads of state, strengthen the alignment of development strategies, promote mutually beneficial cooperation, enhance international collaboration, and jointly build a closer China-Kyrgyzstan community with a shared future. China highly appreciates Kyrgyzstans long-standing constructive role in the China-Central Asia mechanism and will fully support Kyrgyzstan in hosting this years SCO summit.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Thai Deputy Prime Minister and Foreign Minister Norodom Sihasak in New York on the sidelines of the UN Security Council High-Level Meeting. Wang Yi thanked Sihasak for attending the high-level meeting, stating that China and Thailand are both defenders and practitioners of multilateralism, and participants and beneficiaries of the global governance system. Thailand proposed a more strategic, forward-looking, and sustainable "Thailand Diplomacy 2.0," and China welcomes Thailand playing a greater role on the international stage, jointly committed to revitalizing and activating the United Nations, promoting reform and improvement of global governance, and contributing to the cause of peace and development for mankind. China appreciates Thailands firm adherence to the one-China principle and is willing to strengthen high-level exchanges with Thailand to further strengthen the "China-Thailand family" bond. Both sides should accelerate the formulation of a new version of the China-Thailand Strategic Cooperation Joint Action Plan, comprehensively plan cooperation in all fields, and promote new achievements in building a China-Thailand community with a shared future. China supports Thailand and Cambodia in adhering to dialogue and consultation, consolidating the ceasefire, gradually rebuilding mutual trust, and peacefully resolving disputes, and is willing to continue to play a constructive role in this regard.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Colombian Foreign Minister David Villavincensio on the sidelines of the UN Security Council high-level meeting in New York on May 26. Wang Yi thanked Villavincensio for attending the high-level meeting and stated that China will support Colombias presidency of the Security Council in June. Under the strategic guidance of the two heads of state, China-Colombia relations have made breakthrough progress, especially since Colombia joined the Belt and Road Initiative a year ago, with pragmatic cooperation yielding fruitful results and bringing tangible benefits to the people of both countries. China has always viewed and developed China-Colombia relations from a strategic perspective, supports Colombias domestic peace process, and appreciates Colombias long-standing adherence to the one-China principle.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with UN Secretary-General António Guterres on the sidelines of the UN Security Council High-Level Meeting in New York on May 26. Wang Yi stated that this year marks the 55th anniversary of the restoration of the Peoples Republic of Chinas legitimate seat in the United Nations. China highly appreciates the Secretariats firm adherence to the one-China principle and its compliance with UN General Assembly Resolution 2758. As a staunch supporter of the UNs cause, China is willing to continue upholding multilateralism, firmly safeguarding the international system with the UN at its core, and continuously deepening cooperation with the UN in areas such as promoting South-South cooperation, reforming the international economic and financial system, addressing climate change, artificial intelligence, and regional hotspots. China will support the UN with concrete actions, revitalize the UN, and strengthen the UN, continuously empowering global governance with Chinas governance model and injecting stronger impetus into building a community with a shared future for mankind. Wang Yi stated that since taking office, Secretary-General Guterres has upheld multilateralism, worked tirelessly for peace, and spoken out for justice, gaining international recognition. China appreciates this and invites Guterres to visit China this year.

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.