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June 5 – Russian President Vladimir Putin has been informed of the open letter issued by Ukrainian President Volodymyr Zelensky, Russian President Vladimir Putin said today (June 5). Zelensky, in an open letter to Putin published the previous day, proposed a meeting between the two leaders to agree on an end to the conflict and warned that "otherwise, Kyiv is prepared to continue fighting."June 5th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. Petroleum asphalt plant warehouse futures receipts: 96,220 tons, unchanged from the previous trading day; 2. Petroleum asphalt warehouse futures receipts: 21,120 tons, unchanged from the previous trading day; 3. International copper futures warehouse receipts: 10,806 tons, unchanged from the previous trading day; 4. Nickel futures warehouse receipts: 86,558 tons, an increase of 1,062 tons from the previous trading day; 5. Fuel oil futures warehouse receipts: 36,160 tons, unchanged from the previous trading day; 6. Tin futures warehouse receipts: 11,905 tons, an increase of 115 tons from the previous trading day; 7. Zinc futures warehouse receipts: 109,456 tons, an increase of 149 tons from the previous trading day; 8. Stainless steel warehouse futures warehouse receipts: 84,186 tons, an increase of 2,457 tons from the previous trading day; 9. Butadiene rubber futures warehouse receipts: 29,590 tons, down 480 tons from the previous trading day; 10. Rebar warehouse futures warehouse receipts: 30,379 tons, up 2,383 tons from the previous trading day; 11. TSR20 rubber futures warehouse receipts: 27,721 tons, unchanged from the previous trading day; 12. Natural rubber futures warehouse receipts: 150,910 tons, up 300 tons from the previous trading day; 13. Pulp warehouse futures warehouse receipts: 228,812 tons, down 3,929 tons from the previous trading day; 14. Pulp mill warehouse futures warehouse receipts: 20,000 tons, unchanged from the previous trading day; 15. Silver futures warehouse receipts: 972,611 kg, down 289 kg from the previous trading day; 16. Copper futures warehouse receipts: 95,092 tons, down 763 tons from the previous trading day; 17. 18. Alumina futures warehouse receipts totaled 426,255 tons, an increase of 3,892 tons from the previous trading day; 19. Medium-sulfur crude oil futures warehouse receipts totaled 2,961,000 barrels, a decrease of 550,000 barrels from the previous trading day; 20. Lead futures warehouse receipts totaled 56,268 tons, a decrease of 1,230 tons from the previous trading day; 21. Hot-rolled coil futures warehouse receipts totaled 451,110 tons, a decrease of 2,370 tons from the previous trading day; 22. Gold futures warehouse receipts totaled 111,663 kilograms, a decrease of 6 kilograms from the previous trading day; 23. Aluminum futures warehouse receipts totaled 489,031 tons, a decrease of 899 tons from the previous trading day; 24. Low-sulfur fuel oil warehouse futures warehouse receipts totaled 0 tons, unchanged from the previous trading day.The Bank of England reported that in the three months to May, businesses expected their product price inflation rate for the next year to be 4.0%, up 0.2 percentage points from the level reported in the three months to April.Bank of England: 24% of surveyed businesses expect wages to rise due to the conflict.The onshore yuan closed at 6.7712 against the US dollar at 16:30 on June 5, up 56 points from the previous trading day.

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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