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On August 27th, according to the Financial Times, Israel is considering expelling British and other European officials from the US-led Gaza Reconciliation Center in retaliation for their criticism of the Netanyahu governments policies on Palestinian territories. Sources indicate that the Israeli government has discussed expelling Britain from the International Gaza Support Center (IGSC) in recent weeks. This center is a multinational coordination headquarters established to monitor the US-brokered ceasefire agreement between Israel and Hamas. Israel has also considered similar measures against Italy and Germany. Headquartered in southern Israel, the IGSC is led by US military officials who work with the Israel Defense Forces and dozens of military and diplomatic officials from approximately 50 countries and international organizations. Israeli Foreign Minister Saar announced this week the expulsion of the Dutch representative from the center because the Netherlands decided to boycott products from Israeli settlements in the occupied West Bank, East Jerusalem, and the Golan Heights. Israel also expelled the Spanish representative from the IGSC this year, citing "persistent anti-Israel bias."On August 27th, Qantas Group released its 2026 fiscal year annual report, showing that its after-tax profit fell by nearly 20% year-on-year due to increased fuel costs driven by the Middle East conflict. The report showed that for the fiscal year ending June 30th, the groups pre-tax profit was A$2.06 billion (approximately US$1.40), a decrease of 13.8% year-on-year; after-tax profit was A$1.29 billion, a decrease of over 19% year-on-year. Qantas Group CEO Vanessa Hudson said that the groups fuel costs increased by A$610 million in the fiscal year due to higher fuel prices caused by the Middle East conflict.According to the Financial Times, Israel is considering expelling British officials from its post-war Gaza headquarters. The Israeli government has discussed removing Britain from the International Gaza Support Centre in recent weeks.According to the Financial Times, EU countries are restarting their plans to use frozen Russian assets to aid Ukraine.August 27th - From 8:00 AM on August 26th to 8:00 AM on August 27th, according to monitoring by the Guangxi Hydrological Center, heavy to torrential rain fell in parts of Beihai, Nanning, Yulin, Hechi, Fangchenggang, Qinzhou, and Chongzuo, with localized areas experiencing extremely heavy rain. The highest daily rainfall was recorded in Pingyang Town, Yinhai District, Beihai City, at 147.5 mm. As of 8:00 AM on the 27th, 16 stations on 10 rivers in Guangxi, including the Zuojiang River and its tributary Kelan River, the Mingjiang River and its tributary Pailian River, and the Yujiang River and its tributary Qinglongjiang River, were still above warning levels by 0.10 to 7.47 meters. The Guangxi Hydrological Center predicts that in the next 24 hours, the water level of the Yujiang River from Nanning city to Guigang city will continue to rise by 0.2 to 0.5 meters, with the Nanning city section of the Yujiang River (warning level 73.0 meters) expected to exceed the warning level by about 2.3 meters. The Qingshui River, Diaojiang River, and Beizhijiang River, tributaries of the Hongshui River, and the Mengjiang River and Liyujiang River, tributaries of the Yujiang River, may experience water level rises of 1 to 4 meters, with some sections potentially exceeding warning levels. Some small and medium-sized rivers in Nanning, Guigang, Laibin, Fangchenggang, Qinzhou, Beihai, and Hechi cities may also experience floods exceeding warning levels.

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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