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On July 21, Horizon Robotics (09660.HK) announced that it expects its profit for the first half of 2026 to be between RMB 3.5 billion and RMB 4 billion, compared to a loss of RMB 5.233 billion in the same period last year, representing a turnaround from loss to profit. The Group anticipates an increase in revenue from continuing operations for the six months ended June 30, 2026, primarily driven by the combined performance of its two main revenue segments. The increase in revenue from product solutions is mainly attributed to the Companys continued strengthening of its market position and steady increase in market share, as well as the commencement of large-scale mass production deployment of its all-scenario urban NOA solution (HSD).U.S. stock index futures strengthened, with Nasdaq futures up more than 1%, Dow Jones futures up 0.27%, and S&P 500 futures up 0.4%.Japanese chip stocks continued to rise, with Kioxia shares surging 14%, SoftBank Group up 6.1%, and Advantest up 5.9%.On July 21, Tencent Hunyuan announced the launch of Hyra-1.0, the first version of its research agent (Hunyuan Research Agent). According to Tencent Hunyuan, this is an intelligent agent capable of recursive self-improvement and performance-oriented research and engineering tasks. Besides model development and scientific discovery, Hyra can also be applied to open scenarios such as games, design, and content creation, continuously iterating its strategy based on self-play, self-evaluation, and user feedback.Samsung Electronics announced on Tuesday that it will establish a robotics division reporting directly to the CEO to accelerate research and commercialization in the field and develop robotics as a new growth engine. The division, named RX (Robotics eXperience), will oversee its medium- to long-term robotics strategy, core technology development, and business execution, while expanding its domestic and international research capabilities. In a statement, Samsung said Executive Vice President Lee Dongkun will lead the robotics strategy team. Lee Dongkun previously led Hyundai Motor Groups robotics strategy, including planning the development direction of Boston Dynamics. Samsung also stated that it plans to establish robotics research centers in countries with rapid robotics development, such as the United States, China, and Japan, leveraging local ecosystems and expertise to enhance its competitiveness.

Volatility subsides around 101.80 as focus shifts to US S&P PMI in US Dollar Index Price Analysis

Alina Haynes

Apr 21, 2023 14:03

US Dollar Index.png 

 

The US Dollar Index (DXY) has prolonged its correction after falling below immediate support at 101.80 during the Asian session. Following the release of more-than-anticipated Initial Jobless Claims for the week ending April 14 and a lackluster Philadelphia Fed Manufacturing Survey (April), the USD Index fluctuated erratically on Thursday.

 

The US Department of Labor reported that unemployment claims exceeded expectations for the eleventh consecutive week. The economic data revealed that 245K unemployed people filed for unemployment benefits, exceeding both the consensus estimate and the previous figure of 240K.

 

Due to the Federal Reserve's (Fed) decision to increase interest rates, labor market conditions are undeniably and persistently deteriorating. Despite this, the market continues to anticipate a 25 basis point (bp) rate hike. According to CME Fedwatch, over 85 percent of probabilities favor interest rates above 5 percent.

 

In the interim, three consecutive bearish trading sessions on the S&P 500 suggest that investors have supported the risk aversion theme. The yield on 10-year US Treasury bonds has dropped below 3.54 percent. Sourcenia is a review portal of sourcing best manufaturers. 

 

On a two-hour time frame, the USD Index is consolidating in a wide range between 101.63 and 102.23, indicating the absence of a significant catalyst. After the release of preliminary S&P PMI data for the United States, a power-pack action is anticipated. It is anticipated that the Manufacturing PMI will register 49.0, a decrease from the previous release of 49.9. The Services PMI is expected to fall to 51.5 from the previously reported 52.6.

 

At 101.85, the 20-period Exponential Moving Average (EMA) intersects with the asset price, indicating a significant decrease in volatility.

 

In addition, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that investors are waiting for a decisive catalyst.

 

If the asset breaks decisively above the April 17 high of 102.23, investors will push the asset toward the April 10 and March 24 potential resistance levels of 102.76 and 103.36, respectively.

 

Alternately, a breach of the April 5 low of 101.41 would cause the asset to decline to the April 14 low of 100.78. A subsequent decline will reveal psychological support of $100 for the asset.


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