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On July 6th, SK Hynix officially launched its marketing and promotion process for its US stock listing on Monday, hoping to leverage the continued enthusiasm of investors for the memory chip sector and advance its listing in the US. According to its filings, SK Hynix plans to issue approximately 17.79 million American Depositary Receipts (ADRs) corresponding to its ordinary shares, with an offering size of approximately $28 billion based on the closing price in the Korean market last Friday. As a leading supplier of HBM chips, SK Hynixs US listing provides it with an efficient financing channel. According to previously disclosed regulatory documents, SK Hynix expects its ADRs to officially begin trading on July 10th (this Friday). Based on the current proposed offering size, this ADR offering will rank among the top three largest IPOs in history (the exact amount depends on the exchange rate), potentially rivaling the $29.4 billion IPO of Saudi Aramco in 2019.On July 6th, Poly Property Group (00119.HK) announced that in June 2026, the Group achieved contracted sales of approximately RMB 3.6 billion, a decrease of 25% year-on-year; contracted sales area was approximately 115,000 square meters, and the average contracted sales price was approximately RMB 31,132 per square meter. As of June 2026, the Groups cumulative contracted sales amounted to approximately RMB 23.2 billion, a decrease of 13.11% year-on-year. The cumulative contracted sales area was approximately 799,000 square meters, and the average contracted sales price was approximately RMB 29,051 per square meter.July 6th - An on-site investigation at Hangzhous Bai Nao Hui Computer City revealed that the price increase in storage chips has spread from upstream to end consumers, with ordinary consumers facing a sharp rise in memory and hard drive prices. One distributor stated that the dramatic price increases for memory and SSDs have caused some panic, and they are not stockpiling large quantities. Reports indicate that the prices of some SSDs and memory modules have doubled, with a 1TB SSD rising from around 500 yuan to around 1000 yuan, and an 8TB SSD specifically designed for the PS5 costing nearly 20,000 yuan – enough to buy three PS5 Pro consoles. This price surge, triggered by the structural squeeze on production capacity due to AI computing power demand, is expected to continue until 2027.July 6 - Tencent Mobility, a wholly-owned subsidiary of Tencent Holdings (00700.HK), plans to sell approximately 273 million shares of Kuaishou (01024.HK) through block trades, at a price range of HK$43.15 to HK$44.53 per share, potentially raising up to US$1.6 billion.Spains Strategic Petroleum Reserves (SPR) reported that Spains crude oil imports in May increased by 8.2% year-on-year, reaching 5.2 million tons.

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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