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According to TASS, the local mayor said that drones attacked a Moscow oil refinery.On June 18, Li Chao, Deputy Director of the Policy Research Office and Spokesperson of the National Development and Reform Commission, stated at a press conference that achieving carbon peaking and carbon neutrality is not only an inevitable requirement for achieving high-quality development and promoting modernization in harmony with nature, but also a solemn commitment my country, as a responsible major power, has made to the international community. We will work with relevant departments and local governments to simultaneously address both existing and new carbon emissions. Regarding existing carbon emissions, we will focus on nine key industries, including steel, electrolytic aluminum, cement, flat glass, oil refining, ethylene, synthetic ammonia, methanol, and coal-fired power, implementing a three-year action plan for energy conservation and carbon reduction transformation, creating more space for new projects in high-energy-consuming and high-polluting sectors to implement carbon emission replacement at the same or reduced level. Regarding new carbon emissions, we will promote the optimization of energy structure in new projects, actively develop new models such as green direct supply, increase the proportion of non-fossil energy use, and reduce carbon emission levels. Next, we will encourage local governments to expand investment in zero-carbon industrial parks and zero-carbon transportation corridors, accelerate the realization of new clean energy power generation covering the entire societys new electricity demand, and continuously cultivate new drivers for green and low-carbon development.The main Shanghai silver futures contract fell 2.00% during the day, currently trading at 16,478.00 yuan/kg.On June 18th, a recent report by an international organization claimed that the growth of Chinese companies global market share in some key sectors was mainly due to government subsidies. On the same day, Li Chao, Deputy Director of the Policy Research Office and spokesperson for the National Development and Reform Commission, responded at a press conference, stating that simply attributing Chinas industrial competitiveness to so-called "subsidies" is not only overly simplistic but also completely wrong. Chinas industrial competitiveness stems from the intensive development of its massive market, the efficient collaboration of its complete industrial system, the long-term accumulation of education, science and technology, and talent, and the continuous optimization of its business environment.On June 18th, Li Chao, Deputy Director of the Policy Research Office and Spokesperson of the National Development and Reform Commission, responded at a press conference that my country has made positive progress in computing-power synergy and computing-network integration in recent years. However, we also see that the synergy between computing networks and new power grids still faces some obstacles in planning, construction, and pricing mechanisms. The integration of computing networks with next-generation communication networks needs further strengthening, and breakthroughs are needed in computing power monitoring and scheduling technologies and mechanisms. During the 15th Five-Year Plan period, we will pay more attention to supply and demand matching and strengthen the coordinated planning and construction of computing networks with new power grids and next-generation communication networks. In terms of "hard investment," we will explore more effective computing-power synergy models to achieve a balance between electricity and computing power; strengthen computing-network integration and innovation; appropriately promote the expansion of direct connection lines between national hubs; and further reduce network transmission latency. In terms of "soft infrastructure," we will strengthen the monitoring and market-based scheduling of computing resources and accelerate the construction of a nationwide integrated computing network that is interconnected, accessible, green, and secure.

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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