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According to the Wall Street Journal: Spotify (SPOT.N) is about to launch a physical book.February 5th - Ahead of the Bank of Englands interest rate decision, the yield on 2-year UK government bonds edged lower. The market expects the Bank of England to keep interest rates unchanged at 3.75%. Investors will be watching for any signals from the central bank indicating a possible rate cut in the coming months. Tradeweb data shows that the yield on 2-year UK government bonds fell 2 basis points to 3.708%.On February 5th, Citigroup analysts Andrew M. Gardiner and Daniel Schafei stated in a report that Arms (ARM.O) third-quarter results showed progress in expanding its AI data center market, but also highlighted the need for continued investment. The company believes there are still more opportunities for growth. However, analysts pointed out that short-term pressure on smartphone revenue and the high costs required to support long-term strategic development remain key risk factors for investors. The analysts stated, "We believe that R&D costs have largely been priced into market expectations, and as cloud royalties surpass mobile revenue by the end of this decade, revenue upside will gradually become apparent, supporting our forecast of higher-than-consensus revenue for fiscal years 2028-2030."Volvo Cars shares fell to their lowest level since October 2025, a drop of 25%.On February 5th, Ministry of Commerce spokesperson He Yadong stated that in recent years, under the strategic guidance of the two heads of state, political mutual trust between China and Uruguay has deepened, and cooperation in various fields has steadily progressed. China has remained Uruguays largest trading partner for over a decade. China will work with Uruguay to implement the important consensus reached by the two heads of state, make good use of mechanisms such as the Bilateral Joint Commission on Economic and Trade Cooperation, and promote the improvement, efficiency, and deepening of China-Uruguay economic and trade cooperation. At the Ministry of Commerces regular press conference that day, a reporter asked: Uruguayan President Orsi visited China, leading a large business delegation composed of entrepreneurs. What important progress has been made in economic and trade relations? He Yadong explained that during the visit, the two heads of state held talks, pointing the way for the development of bilateral economic and trade relations. Under the joint witness of the two heads of state, the Chinese Ministry of Commerce and the Uruguayan Ministry of Foreign Affairs signed a Memorandum of Understanding on Deepening Cooperation in Facilitating Bilateral Trade, confirming that they will strengthen cooperation in areas such as supply chains, standards and conformity assessment, trade facilitation and digitalization, and green trade, and promote high-quality development of bilateral trade.

AUD/USD Price Prediction: 0.6770 aims to recapture last week's high

Daniel Rogers

Dec 27, 2022 10:58

 AUD:USD.png

 

During the Asian session, the AUD/USD pair broke above the thin consolidation around 0.6720. As market risk appetite rises, the Australian asset has surged over 0.6750 and is expected to reclaim the previous week's high around 0.6770.

 

In the meantime, the US Dollar Index (DXY) is experiencing firm resistance near the key level of 104.00, as a decrease in the United States Personal Consumption Expenditure (PCE)-Price Index has boosted expectations of less-hawkish monetary policy in the near future from the Federal Reserve (Fed).

 

Thursday's responsive buying activity in the Australian dollar at 0.6660 pushed the asset above the 50-period and 200-period Exponential Moving Averages (EMAs) at 0.6703 and 0.6717 respectively. After surpassing the previous week's peak of approximately 0.6770, the Australian Dollar will see significant increases.

 

In addition, the Relative Strength Index (14) has moved into the positive zone between 60.00 and 80.00, indicating the emergence of bullish momentum.

 

The Australian dollar will face round-level resistance and the high from December 14 around 0.6800 and 0.6880, respectively, after surpassing the previous week's high at 0.6770.

 

In contrast, a loss below the December 12 low of about 0.6630 will drive the asset towards the round-level resistance at 0.6600, followed by the November 8 high of about 0.6550.

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