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New Zealand and Thailand launch strategic partnership.On August 21, data from the National Energy Administration showed that in July, total electricity consumption reached 1.04 trillion kilowatt-hours, a year-on-year increase of 1.7%. By sector, primary industry electricity consumption was 16.7 billion kilowatt-hours, a year-on-year decrease of 2.0%. Secondary industry electricity consumption was 611.6 billion kilowatt-hours, a year-on-year increase of 3.0%; among which, industrial electricity consumption was 605.5 billion kilowatt-hours, a year-on-year increase of 3.3%, and high-tech and equipment manufacturing electricity consumption was 122 billion kilowatt-hours, a year-on-year increase of 8.9%. Tertiary industry electricity consumption was 218.3 billion kilowatt-hours, a year-on-year increase of 4.8%; among which, charging and swapping services and internet data services consumed 16.4 billion and 9.9 billion kilowatt-hours respectively, with growth rates reaching 50.3% and 40.1% respectively. Residential electricity consumption was 193.5 billion kilowatt-hours, a year-on-year decrease of 5.1%.On August 21, the National Energy Administration released data on total electricity consumption for July. From January to July, total electricity consumption reached 6,139.9 billion kilowatt-hours, a year-on-year increase of 4.7%. By sector, primary industry electricity consumption was 87.7 billion kilowatt-hours, a year-on-year increase of 3.5%. Secondary industry electricity consumption was 3,917.3 billion kilowatt-hours, a year-on-year increase of 4.7%; among which, industrial electricity consumption was 3,881.5 billion kilowatt-hours, a year-on-year increase of 4.9%, and high-tech and equipment manufacturing electricity consumption was 722.8 billion kilowatt-hours, a year-on-year increase of 9.7%. Tertiary industry electricity consumption was 1,210 billion kilowatt-hours, a year-on-year increase of 7.4%; among which, charging and swapping services and internet data services consumed 97.4 billion and 59.3 billion kilowatt-hours respectively, with growth rates of 55.8% and 43.3%. Residential electricity consumption was 924.9 billion kilowatt-hours, a year-on-year increase of 1.3%.On August 21, the National Bureau of Statistics released an announcement regarding early rice production data for 2026. Based on the results of the early rice sampling survey, the estimated national early rice planting area, yield per unit area, and total output for 2026 are as follows: The national early rice planting area is 4,744,300 hectares (71.164 million mu), an increase of 1,400 hectares (22,000 mu) compared to 2025, showing a slight increase. The national early rice yield per unit area is 5,963.4 kg/hectare (397.6 kg/mu), a decrease of 48.5 kg/hectare (3.2 kg/mu) compared to 2025, a decrease of 0.8%. The national total early rice output is 28.292 million tons (56.58 billion jin), a decrease of 222,000 tons (440 million jin) compared to 2025, a decrease of 0.8%.On August 21, the Peoples Bank of China (PBOC) announced that on August 25 (Tuesday), it will issue the seventh and eighth tranches of central bank bills for 2026 through the Hong Kong Monetary Authoritys Central Moneymarkets Unit (CMU) bond bidding platform. The seventh tranche of central bank bills has a maturity of 3 months (91 days), is a fixed-rate interest-bearing bond, and will be repaid with principal and interest at maturity, with an issuance amount of RMB 15 billion. The eighth tranche of central bank bills has a maturity of 1 year, is a fixed-rate interest-bearing bond, and will pay interest semi-annually, with an issuance amount of RMB 15 billion.

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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