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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.4 occurred near Longchang City, Neijiang City, Sichuan Province (29.24 degrees north latitude, 105.24 degrees east longitude) at 09:33 on August 14. The final result is subject to the official rapid report.Hang Seng Index futures opened down 0.6% at 25,218 points, a discount of 177 points.The Latvian Armed Forces issued an air threat alert on social media.Futures News, August 14th: Change Rate: According to JLC Network Technologys calculations, as of the tenth working day on August 14th, the average price of benchmark crude oil was $82.64/barrel, with a change rate of -6.15%. Domestic retail prices of gasoline and diesel were reduced by 230 and 220 yuan/ton respectively. 1. Shandong Local Refineries: Market purchases increased yesterday, but local refineries have not yet achieved a balance between production and sales of gasoline and diesel. Coupled with the halt in the rise and subsequent fall of international crude oil prices, this created downward pressure, and it is expected that the price of refined oil products from Shandong local refineries will be under pressure and fall by 50-100 yuan/ton today. 2. East China: On Friday, crude oil prices stopped rising and fell back, and the window for price reductions opened. There was little support from news. It is expected that the prices of gasoline and diesel from major oil companies in East China will be under pressure today, with weak end-user demand. Industry players are waiting for the price reductions to be implemented, resulting in sluggish buying and selling. 3. South China: On Friday, crude oil closing prices fell, and the window for retail price reductions opened. With the negative impact of news, it is expected that the price of gasoline and diesel from major oil companies in South China will maintain a stable to slightly downward trend today. The market is observing and waiting for further developments, and new orders are decreasing. 4. North China: On Friday, crude oil prices fell and the window for retail price reductions opened. It is expected that gasoline and diesel prices in North China will face downward pressure. While the impact of the typhoon is gradually subsiding, the current weak demand is unlikely to improve. Traders are cautious about entering the market for immediate needs, resulting in a subdued trading atmosphere. 5. Central China: On Friday, crude oil prices stopped rising and fell back, and the window for retail price reductions opened. News points to a bearish outlook. It is expected that gasoline and diesel prices in Central China will be under pressure and consolidate today. Traders are observing the market to reduce inventory, and the market awaits the implementation of price adjustments.The main platinum contract fell by 2.00% during the day, currently trading at 423.50 yuan/gram.

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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