EUR/USD 1.14121
0.376%
Gold 4105.68
1.284%
Oil 84.267
-4.830%
USD/JPY 163.494
-0.216%
GBP/USD 1.33608
0.300%
GBP/JPY 218.447
0.084%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 27 - According to Xunze (03317.HK), the company has reached a strategic cooperation agreement with Shenzhen Kaihong Digital Industry Development Co., Ltd. The two parties will carry out comprehensive cooperation in three major areas: AI data infrastructure, terminal data tokenization application, and token business model.Apples (AAPL.O) system status webpage indicates that the outage has been resolved for all affected services, including the App Store.On July 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the data, stating that in the first half of the year, against the backdrop of stable industrial production growth and a continued rebound in industrial product prices, the operating revenue of industrial enterprises above designated size increased by 6.5% year-on-year, 1.5 percentage points faster than in the first quarter. The accelerated growth in operating revenue led to a 18.7% year-on-year increase in profits for industrial enterprises above designated size, 3.2 percentage points faster than in the first quarter. Looking at the three major sectors, profits in the mining and manufacturing industries increased by 33.5% and 20.1% respectively, accelerating by 17.3 and 1.0 percentage points respectively compared to the first quarter; while profits in the production and supply of electricity, heat, gas, and water decreased by 4.2%. In June, the profits of industrial enterprises above designated size nationwide increased by 15.1% year-on-year.On July 27th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4850%, and the lowest was 0.7320%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0130%, and the lowest was 0.9220%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0610%, and the lowest was 0.9520%.As of 09:30 Beijing time, WTI crude oil futures fell 5.92% and U.S. natural gas futures fell 1.80%.

Price Analysis of the US Dollar Index: DXY Retreats from 104.00, Rising Wedge Anticipated

Alina Haynes

May 12, 2022 10:27

During Thursday's Asian session, the US Dollar Index (DXY) fails to continue the previous two days' upward momentum, trading on the defensive around 103.95.

 

In doing so, the dollar index remains near the 20-year high reached earlier in the week, but for the first time in three days, the daily decline is recorded.

 

In addition to highlighting a 12-day-old rising wedge bearish pattern surrounding the multi-day top, the DXY's most recent decline also reveals a multi-day top-adjacent rising wedge formation. The slow RSI also highlights the significance of the chart pattern.

 

However, a decisive breach below 102.90 is required to validate the potential decline to 101.30.

 

During the fall, the 100-SMA and monthly low between 102.65 and 102.35 will serve as intermediate stops.

 

Until the quote continues below the indicated wedge's resistance line, approximately 104.30 as of press time, a recovery appears elusive.

 

After that, a slow climb to the September 2002 high of 109.80 cannot be ruled out.

Four-hour DXY chart

 image.png

Suggestion