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Iranian Foreign Ministry: The Iranian Foreign Minister and the French Foreign Minister spoke by phone to discuss and consult on the latest regional developments.June 1st - Three sources say OPEC+ oil-producing countries are likely to agree to further increase crude oil production quotas in July at their meeting on Sunday. However, the war with Iran has so far prevented some countries from meeting their previous production increase targets. A further increase in production quotas would indicate that the organization is gradually returning to normal operations, despite disruptions caused by the blockade of the Strait of Hormuz and the unexpected withdrawal of the UAE in May. According to the sources, OPEC+ is expected to increase production by approximately 188,000 barrels per day in July, the same increase agreed upon in June, which was previously revised down from 206,000 barrels per day due to the UAEs withdrawal.According to Hong Kong Stock Exchange documents, PT Merdeka Gold Resources Tbk-S has passed the listing hearing on the Hong Kong Stock Exchange.Three sources said OPEC+ is expected to decide at its meeting on Sunday to increase its crude oil production quota by 188,000 barrels per day in July.On June 1st, Zhipu (02513.HK) announced on the Hong Kong Stock Exchange that at its board meeting held on June 1st, 2026, the company proposed to apply to the relevant Chinese regulatory authorities for the allotment and issuance of A-shares, and to apply to the Shanghai Stock Exchange for the listing and trading of such A-shares on the Science and Technology Innovation Board (STAR Market). The proposed A-share issuance will represent between 2% and 8% of the companys total share capital after the proposed A-share issuance (excluding any A-shares to be issued due to the exercise of the over-allotment option), i.e., not less than 9,098,800 shares and not more than 38,769,000 new A-shares. The board meeting also passed other supplementary resolutions regarding the proposed A-share issuance, which will be submitted to shareholders for approval at the annual general meeting.

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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