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On April 3, White House aide Peter Navarro said that US President Trump’s tariffs could increase revenue by three times the size of the World War II tax increase in 1942, and could become the largest tax increase in US history.On April 3, a research report by CLSA indicated that ChinaSoft International (00354.HK)s revenue fell 1% year-on-year to RMB 16.951 billion last year, and the first disclosed AI-related revenue was RMB 957 million, accounting for 5.6% of revenue. The companys price reduction strategy has led to a decline in gross profit margin, and the main reason for the lower-than-expected net profit is a one-time impact. The bank expects the companys fundamentals to improve this year, mainly because the number of employees increased in the second half of last year. The bank expects the companys net profit to reach RMB 748 million this year, up 45.8% year-on-year, and lowered the target price from HK$7 to HK$6.5, maintaining the rating of outperforming the market.On April 3, the Australian bond market has experienced a dovish turn since the White House announced its new tariff agenda. IG market analyst Tony Sycamore said that the market has priced in an 85% chance that the Reserve Bank of Australia will cut interest rates by 25 basis points in May. Subsequent rate cuts are expected in August and November, with a cumulative rate cut of 75 basis points by November. He added that US tariffs have far exceeded expectations, increasing the likelihood of a trade war and recession in the United States. He also said that since goods from countries such as Vietnam are now effectively shut out of the United States, cheap goods are expected to flood other Asian markets.Japan’s Chief Cabinet Secretary Yoshimasa Hayashi declined to comment when asked about the possibility of retaliation against U.S. tariffs.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We believe that the recent US tariff measures may have a significant impact on the multilateral trading system, and we strongly call on the United States to exclude Japan from these measures.

Natural Gas Price Analysis: XNG/USD appears poised to retest multi-month lows close to $2.00

Alina Haynes

Mar 29, 2023 14:25

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Natural Gas (XNG/USD) maintains losses near $2.20 as bears test the yearly low established in February. In doing so, the energy quotation remains lethargic following two consecutive days of decline.

 

The XNG/USD bears applaud the sustained trading below a two-week-old descending resistance line, around $2.27 at the time of writing, amidst bearish MACD signals and the absence of an oversold RSI. (14).

 

Consequently, the price of natural gas appears poised to fall below the yearly low of $2.13, which accentuates the $2.00 psychological magnet.

 

However, the early July 2020 high around $1.97 and the 61.8% Fibonacci Expansion (FE) of its moves during early January-March 2023, around $1.80, could challenge the Natural Gas skeptics later, in conjunction with a likely oversold RSI line.

 

In contrast, a break above the stated immediate resistance line, near $2.27, is not an open invitation to Natural Gas purchasers, as another downward-sloping trend line from the beginning of the year, near $2.40 at the latest, functions as a further check on the XNG/USD bulls.

 

If the price manages to remain firmer than $2.40, there is no reason to rule out a rally toward the mid-March high of $2.75.