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The Bank of Englands mortgage lending approvals for April will be announced in ten minutes.On June 2nd, the Nansha District of Guangzhou held a press conference to release the "Implementation Opinions on Further Promoting the High-Quality Development of the Real Estate Market in Nansha District." The document outlines a special subsidy program for "trade-in" housing in Nansha District. For residents participating in the "trade-in" program between January 1, 2026, and June 30, 2027, a subsidy of 1% of the total purchase price of the newly purchased commercial residential property will be provided, with a maximum subsidy of RMB 20,000 per unit and a total subsidy amount of RMB 30 million, available on a first-come, first-served basis. The document also explores conditional exploration of school enrollment for those purchasing commercial or office properties. It mandates the normalization of "school enrollment through home purchase," allowing for coordinated enrollment upon completion of online contract signing. Each academic year, the district education administration department will coordinate the allocation of district-run public school places (including government-purchased private school places) for non-Nansha residents who purchase newly built commercial residential properties within the districts administrative area for the first grade of compulsory education.June 2nd - According to the "Interim Measures for the Administration of Generative Artificial Intelligence Services", as of June 2nd, 2026, Beijing has added 10 new generative artificial intelligence services that have completed registration, bringing the total number of registered generative artificial intelligence services to 241.June 2nd - According to the China Real Estate Index Systems 100-City Price Index, the average price of new residential properties in 100 cities in May was 17,156 yuan per square meter, up 0.16% month-on-month and 2.03% year-on-year. In May, high-quality new properties entered the market in cities such as Shenzhen, Shanghai, Chengdu, Hangzhou, and Wuhan, supporting the continued structural upward trend in new home prices. Looking at different tiers, in May, new residential property prices in first-tier cities rose 0.26% month-on-month and 5.54% year-on-year. Second-tier cities saw a 0.23% month-on-month increase and a 1.75% year-on-year increase. Third- and fourth-tier cities experienced a 0.14% month-on-month decrease and a 2.60% year-on-year decrease. In terms of the number of cities with price changes, 29 cities saw month-on-month increases, 65 saw decreases, and 6 remained unchanged.June 2nd - According to preliminary statistics from China Index Academy, the transaction area of newly built commercial residential properties in 100 key cities increased by 7% month-on-month in May, but decreased slightly by 2% year-on-year. Among them, first-tier cities saw a year-on-year increase of 10% in May, marking the second consecutive month of growth, although the growth rate narrowed by 8.7 percentage points compared to April. Beijing, Shanghai, Guangzhou, and Shenzhen saw year-on-year increases of 15%, 2%, 7%, and 50%, respectively. Among second-tier cities, Fuzhou, Nanjing, Wuhan, and Ningbo all saw year-on-year growth. Cumulatively, from January to May, the transaction area of newly built commercial residential properties in the 100 cities totaled approximately 86.15 million square meters, a year-on-year decrease of 13%. According to preliminary statistics from China Index Academy, the approved listing area of newly built commercial residential properties in 50 key cities in May decreased by approximately 31% year-on-year. Although some cities still saw high-quality projects entering the market, the overall supply of new homes still declined significantly year-on-year. From January to May, the cumulative listing area of newly built residential properties in these 50 cities decreased by 23% year-on-year.

Price Analysis: EUR/JPY Daily Rising Wedge Targeting 143.00

Daniel Rogers

Nov 23, 2022 16:01

 截屏2022-11-23 上午9.53.21.png

 

The EUR/JPY continues to consolidate within an ascending wedge, after ending Tuesday with tiny losses of 0.04% due to a risk-on sentiment. At the start of the Asian trading session, the EUR/JPY exchange rate is 145.48, representing a slight gain of 0.01%.

 

As noted previously, a rising wedge emerged on the EUR/JPY daily chart, with the bulk of daily lows acting as dynamic support after the 50-day Exponential Moving Average (EMA). In spite of the fact that the cross continues to move steadily, there has been less price action during the past four days. This would suggest that the EUR/JPY exchange rate is stable or that a breakout is near.

 

If the EUR/JPY reaches 146.00, it could accelerate a rally toward the year-to-date (YTD) highs near 148.40; however, buyers must first overcome crucial resistance levels. The first is the rising wedge top trendline close to 146.50, followed by the 9 November daily high at 147.11. After the psychological 148.00 is reached, the next objective will be 149.00.

 

If the EUR/JPY breaks below the rising wedge, the 50-day exponential moving average (EMA) around 144.12 would provide first support. A breach of this level will expose the 143.00 level, followed by the November 11 swing low of 142.54.

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