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On January 19, China Taiping (00966.HK) announced on the Hong Kong Stock Exchange that the Groups profit attributable to shareholders for the year ended December 31, 2025, is expected to increase by approximately 215% to 225% compared to the same period last year. The profit attributable to shareholders for the year 2024 was HK$8.432 billion.January 19th - On January 15th, Dai Houliang, Chairman of China National Petroleum Corporation (CNPC), met with Canadian Prime Minister Mark Carney in Beijing. The two sides exchanged views on promoting and expanding Sino-gas cooperation.The yield on Japans 40-year government bonds rose to 3.895%, a record high.On January 19th, Peng Yongtao, Director of the Service Industry Survey Center of the National Bureau of Statistics, stated that the service sector contributed 61.4% to national economic growth, an increase of 3.7 percentage points from the previous year; the service sector boosted GDP growth by 3.0 percentage points, an increase of 0.1 percentage points from the previous year; and the service sectors added value accounted for 57.7% of GDP, an increase of 0.9 percentage points from the previous year. In the fourth quarter, the added value of the service sector reached 21,594.8 billion yuan, a year-on-year increase of 5.2%, contributing 63.2% to economic growth and boosting GDP growth by 2.8 percentage points. The service sectors added value accounted for 55.7% of GDP. In December, the service sector production index increased by 5.0% year-on-year, 0.8 percentage points faster than in November.On January 19th, Hong Kong stocks opened lower and continued to decline throughout the morning session. The Hang Seng Index closed down 0.99% at 26,578 points, while the Tech Index closed down 1.15% at 5,755.35 points. On the sector front, airline stocks performed well, while department store and power equipment stocks led the gains, and the tourism and sightseeing sector rebounded. Pharmaceutical outsourcing concepts led the declines, followed by cosmetics and short video concept stocks, and some AI application stocks also fell. In terms of individual stocks, China Eastern Airlines (00670.HK) rose 8.8%, China Southern Airlines (01055.HK) rose 6.5%, Li Ning (02331.HK) rose 4.2%, Mengniu Dairy (02319.HK) rose 3.5%, and Baidu (09888.HK) rose 2.5%; MINIMAX-WP (00100.HK) fell more than 10%, Zhipu (02513.HK) fell 9.8%, Bilibili (09626.HK) fell 7.7%, WuXi Biologics (02269.HK) fell 5.8%, Hua Hong Semiconductor (01347.HK) fell 4.3%, and Alibaba (09988.HK) fell 3.3%.

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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