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On August 28th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1700%, and the lowest was 0.7050%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 0.9780%, and the lowest was 0.8720%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0440%, and the lowest was 0.9010%.As of 09:30 Beijing time, New York gold futures fell 0.34%, New York silver futures rose 0.72%, and New York copper futures rose 0.07%.On August 28, Russian State Duma Chairman Volodin, in an interview, strongly refuted Japans comments regarding Russian President Putins visit to Iturup Island (known as Etorofu Island in Japanese). Volodin emphasized that the Japanese leadership should face up to its history of aggression. During World War II, Japanese militarism caused severe harm to many countries and was punished for it. Now, the Japanese leadership is reviving dangerous rhetoric, which will only lead to further defeat.According to JLC Network Technologys calculations, as of the tenth working day on August 28th, the average price of benchmark crude oil was $88.21 per barrel, with a change rate of 6.74%. Domestic gasoline and diesel retail prices should be increased by 375 and 360 yuan/ton, respectively. 1. Shandong Local Refineries: With international crude oil futures prices rebounding at the close, coupled with a moderate increase in purchases by industry players yesterday, local refineries are close to achieving a balance between production and sales of gasoline and diesel. Driven by positive factors, it is expected that the price of refined oil products from Shandong local refineries will rise by 30-50 yuan/ton today. 2. East China: On Friday, crude oil prices rebounded at the close, and the window for price increases opened, providing renewed support from the news. It is expected that gasoline and diesel prices from major oil companies in East China will consolidate at high levels today, with industry players mainly operating on an as-needed basis, resulting in a relatively weak market trading atmosphere. 3. South China: On Friday, international crude oil prices rose at the close, and the window for retail price increases opened. Positive news boosted the market, and it is expected that gasoline and diesel prices from major oil companies in South China will remain high and consolidate today, with the terminal market mainly purchasing on an as-needed basis, resulting in a sluggish trading volume. 4. North China: On Friday, the rebound in international oil prices narrowed, and the window for retail price increases opened, which is expected to support the high prices of gasoline and diesel from major oil companies in North China. A small number of prices may see slight increases. Traders are cautious with their immediate needs, resulting in a quiet and stable trading environment. 5. Central China: On Friday, crude oil prices rebounded after a decline, and the window for retail price increases opened. Supported by this positive news, gasoline and diesel prices from major oil companies in Central China are expected to remain high today. Traders are purchasing only as needed, resulting in a quiet and stable market.On August 28th, the State Council Information Office held a press conference to introduce the development of Chinas service trade and the progress of preparations for the 2026 China International Fair for Trade in Services (CIFTIS), and answered questions from reporters. The press conference announced that this years CIFTIS will further leverage its role as an open platform, establishing a "China Services" exhibition area in the core area of the thematic exhibition for the first time to showcase innovative achievements and typical cases in the service trade sector from various regions. The Global Service Trade Summit will continue to be held at a high level, authoritative reports such as the "China Service Trade Development Report" will be released, and nearly 100 conferences and events will be held to provide opportunities for countries around the world to discuss and promote the liberalization and facilitation of service trade.

Price Analysis: EUR/JPY Daily Rising Wedge Targeting 143.00

Daniel Rogers

Nov 23, 2022 16:01

 截屏2022-11-23 上午9.53.21.png

 

The EUR/JPY continues to consolidate within an ascending wedge, after ending Tuesday with tiny losses of 0.04% due to a risk-on sentiment. At the start of the Asian trading session, the EUR/JPY exchange rate is 145.48, representing a slight gain of 0.01%.

 

As noted previously, a rising wedge emerged on the EUR/JPY daily chart, with the bulk of daily lows acting as dynamic support after the 50-day Exponential Moving Average (EMA). In spite of the fact that the cross continues to move steadily, there has been less price action during the past four days. This would suggest that the EUR/JPY exchange rate is stable or that a breakout is near.

 

If the EUR/JPY reaches 146.00, it could accelerate a rally toward the year-to-date (YTD) highs near 148.40; however, buyers must first overcome crucial resistance levels. The first is the rising wedge top trendline close to 146.50, followed by the 9 November daily high at 147.11. After the psychological 148.00 is reached, the next objective will be 149.00.

 

If the EUR/JPY breaks below the rising wedge, the 50-day exponential moving average (EMA) around 144.12 would provide first support. A breach of this level will expose the 143.00 level, followed by the November 11 swing low of 142.54.

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