• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 9th - According to foreign media reports, sources familiar with the matter stated that Venezuela is increasing its sales of US dollars to the private sector to curb the depreciation of its currency, the bolivar, and prevent inflation from spiraling out of control again. A person directly familiar with the operations stated that since March 31st, the authorities have sold approximately $330 million through direct foreign exchange intervention. This resumption of direct intervention (which had been suspended since mid-December last year) highlights the efforts of the Rodriguez interim government to stabilize the exchange rate. Previously, the dollar auction mechanism launched earlier this year had encountered difficulties, with uneven supply putting pressure on the parallel market. According to a report released this week by Ecoanalítica, approximately 80% of dollar demand was rejected by the Venezuelan central bank without explanation. Ecoanalítica analysts noted in the report: "The official foreign exchange supply is highly concentrated in a few entities, coupled with unmet demand from SMEs and individuals, leading to funds flowing into the parallel market. This situation widens the gap between the official exchange rate and the market exchange rate." Consulting firm Síntesis Financiera stated that the government also sold over $1 billion in the official foreign exchange market in March, setting a monthly record since the system was established in 2019.Iranian media reported that the Iranian president told the Pakistani prime minister that Iran had accepted the ceasefire proposal as part of its "responsible and strong" approach.The White House reports that Hungary has announced plans to purchase $700 million worth of HIMARS systems from the United States.Google (GOOG.O): Google Finance will be launched in more than 100 countries in the coming weeks, with full local language support.Iranian Foreign Ministry: During a phone call with the Turkish Foreign Minister, the Iranian Foreign Minister stated that if the United States demonstrates sincerity, there is hope for ending the war and establishing lasting stability and security.

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

 image.png