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On February 10th, the State Administration for Market Regulation (National Standardization Administration) approved and released a batch of important national standards covering emerging fields, transportation and logistics, ecological and environmental protection, work safety, and peoples livelihoods. These standards will play a significant role in improving the quality of life and protecting the safety of life and property. In emerging fields, five national standards were released, including those for brain-computer interfaces and digital twins, clarifying basic specifications such as reference frameworks and data formats to support high-quality development in cutting-edge technologies. Forty-seven national standards were released, including those for aluminum nitride single-crystal polished wafers and carbon fiber reinforced composite materials, to support the innovative development of the new materials industry. Fifteen national standards for laboratory animals were released, including technical specifications for animal model identification and evaluation and methods for detecting dermatopathogenic fungi, to better support biotechnology research and application through laboratory animals.In 2025, the total revenue of my countrys logistics industry will reach 14.3 trillion yuan, a year-on-year increase of 4.1%.The yield on Japans 5-year government bond fell 2.5 basis points to 1.715%.A chart summarizing the overnight price movements of international spot platinum and palladium.February 10th, Futures News: Crude oil prices continued to rise, gasoline and diesel production and sales were acceptable, and positive news supported fuel oil trading and prices. Before the holiday, major refineries released resources for the holiday, and downstream stockpiling gradually came to an end. Due to differences in supply and demand among various fuel oil products, it is expected that refineries will maintain stable production today, and fuel oil negotiations will remain stable with narrow fluctuations.

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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