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On March 13th, the overnight SHIBOR was 1.3210%, down 1.60 basis points; the 7-day SHIBOR was 1.4570%, down 0.80 basis points; the 14-day SHIBOR was 1.4950%, down 0.60 basis points; the 1-month SHIBOR was 1.5330%, down 0.20 basis points; and the 3-month SHIBOR was 1.5420%, down 0.40 basis points.On March 13th, the Sichuan Bureau organized a meeting to promote the pilot program for commercial real estate REITs in its jurisdiction. Recently, the Sichuan Bureau, in conjunction with the Shanghai and Shenzhen Stock Exchanges and the Provincial Financial Office, held the "Sichuan Province Commercial Real Estate REITs Pilot Program Promotion Meeting." Representatives from five provincial departments, including the Provincial State-owned Assets Supervision and Administration Commission, the Department of Housing and Urban-Rural Development, and the Department of Culture and Tourism, as well as relevant municipal and prefectural finance departments and nine enterprises, attended the meeting. The meeting summarized the previous work and further mobilized and deployed local government departments and enterprises to actively respond to the pilot policy, assess assets, and prepare for the tiered cultivation and application of commercial real estate REITs projects. Participating departments and enterprises exchanged views on the progress of commercial real estate REITs projects, existing difficulties, and proposed solutions. The Shanghai and Shenzhen Stock Exchanges conducted training on the development of the multi-tiered REITs market, key points of review, and key cases. Regarding the difficulties and pain points raised by enterprises in project promotion, the Sichuan Bureau will improve record management and work with relevant competent departments and municipal and prefectural governments to provide "one-on-one" solutions for each case.Japanese Finance Minister Satsuki Katayama: We will maintain closer contact with U.S. authorities on foreign exchange issues.Japanese Finance Minister Satsuki Katayama: We are prepared to take all possible measures, while also taking into account the potential impact of oil prices on daily life.Japanese Finance Minister Satsuki Katayama: We need to mitigate the impact as much as possible.

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

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