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On February 11th, according to Tianyancha App, Qingyang Yunjie Shunlian Technology Co., Ltd. recently underwent an industrial and commercial registration change, with its registered capital increasing from 10 million RMB to approximately 505.6 million RMB. The company was established in January of this year, with Song Wei as its legal representative. Its business scope includes digital technology services, retail and wholesale of computer hardware and software and auxiliary equipment, computer system services, software development, software sales, and cloud computing equipment sales. Shareholder information shows that the company is wholly owned by Ningbo Lingqiong Shunlian Network Technology Co., Ltd., a subsidiary of Kingsoft Cloud.On February 11, in response to US President Trumps remarks about cooperation between China and Canada, Foreign Ministry Spokesperson Lin Jian stated at a regular press conference that the establishment of a new type of strategic partnership between China and Canada embodies the spirit of equality, openness and inclusiveness, peaceful cooperation, and win-win outcomes. It is not directed against any third party, is in the common interest of the people of both countries, and is also conducive to world peace, stability, development, and prosperity.Total Energy CEO: India is a market with great potential for liquefied natural gas (LNG), but many people still prefer to use fuel oil when LNG prices are high.February 11th - Market consensus predicts that U.S. nonfarm payrolls will increase by 70,000 in January, up from 50,000 in December; the unemployment rate is expected to remain unchanged at 4.4%; and wage inflation, measured by average hourly earnings year-over-year, is expected to slow to 3.6% from 3.8%. TD Securities analysts noted that they expect job growth to remain subdued in January, with approximately 45,000 new jobs added. They stated, "We expect 40,000 new jobs in the private sector and about 5,000 in the government sector. Private sector growth is primarily concentrated in healthcare and construction. We expect the unemployment rate to continue showing signs of stabilization, remaining at 4.4%. The labor market remains in a state of low layoffs, low hiring. Average hourly earnings are expected to increase by 0.3% month-over-month and 3.7% year-over-year."February 11th Futures News: On February 11th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 131,427 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 15,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 3,880 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 13,580 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 34,710 tons, an increase of 5,000 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 4,980 tons, a decrease of 800 tons from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

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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