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On July 2nd, local time, Iran released a video of a speech by Iranian Parliament Speaker Mohammad Qassem Ghalibaf on the evening of July 1st. Ghalibaf stated that claims about "allowing IAEA inspectors to enter destroyed nuclear facilities" are false. He stated that the Iranian Islamic Parliament passed a law, approved by the Supreme National Security Council, stipulating that access to destroyed or damaged nuclear facilities cannot be permitted in any way. Ghalibaf emphasized that the IAEA is only allowed access to two locations: the Bushehr nuclear power plant and the Tehran nuclear research reactor. Iran does not grant any privileges beyond those granted by the Supreme National Security Council.Market news: A fire broke out at the Primir Palace Hotel in Kyiv following a Russian drone attack.US-Iran Negotiations: 1. According to Saudi Arabias Al Arabiya TV: A senior government official stated that US negotiators Kushner and Witkov held positive discussions with Qatari regional leaders, and technical negotiations with Iran are also progressing. 2. According to foreign media reports on July 1, citing sources, US and Iranian officials will hold indirect talks that day in Doha, the capital of Qatar. 3. According to Israels Channel 12, citing Saudi media reports: The Doha negotiators have reached a preliminary agreement to release $3 billion to Iran. 4. US President Trump: Iran negotiations are progressing well. Irans denuclearization is progressing well. 5. Iran says it will launch negotiations on a final agreement with the US at an appropriate time. 6. According to Axios: The US attempted to persuade Iran to abandon the "passage fee" mechanism in the Strait of Hormuz during the Doha negotiations. 7. According to the Islamic Republic News Agency (IRNA): Irans Deputy Foreign Minister stated that the Iranian delegations talks in Doha have concluded. 8. Sources: Iran is demanding a phased implementation of the US-Iran memorandum of understanding, with a focus on unfreezing assets. 9. Iranian Parliament Speaker Ghalibaf: Reports of inspectors entering bombed sites are false. 10. US Vice President Vance: Technical negotiators are discussing the Iranian issue. 11. Iran claims the US violated its commitments under the memorandum of understanding and will establish a monitoring mechanism to review violations. 12. Iranian sources say Iran insists on retaining control of the Strait of Hormuz. 13. US Vice President Vance: Commercial shipping has achieved free passage in the past three days. 14. Qatar: All parties agreed to advance discussions, and the next meeting will be held after the funeral of the former Iranian Supreme Leader. Other developments: 1. Israeli media, citing senior security officials, stated that the Gaza Strip is nearing a boiling point, and returning to conflict is no longer a question of "if," but "when." 2. US officials: US troops will be stationed in Lebanon to monitor the ceasefire. 3. According to Saudi Arabias Al Arabiya TV: Israel launched airstrikes over Nabutia in southern Lebanon. 4. Iran Air resumes its Tehran-Mumbai route. 5. Thailand confirms that most of its ships have safely left the Strait of Hormuz. 6. British media: Gulf states reportedly seek to reach a regional security agreement with Iran unilaterally. 7. A ship ran aground in the Strait of Hormuz; the extent of the damage is unclear. 8. According to Iranian state media: A foreign container ship ran aground in the Strait of Hormuz because it did not follow the route designated by Iran.July 2nd - According to a report by US tech journalist Gurman, Apple (AAPL.O) is planning to launch an upgraded iPad Pro series and a redesigned entry-level MacBook Pro next year, along with several other major new products to celebrate the 20th anniversary of the iPhone. Sources familiar with the matter revealed that the company is testing four new iPad Pro models planned for release in the spring of 2027. These new models will retain the current 11-inch and 13-inch screens. The updates will primarily focus on internal improvements, including faster chips. As previously reported, Apple has tested a vapor chamber cooling (VC liquid cooling) system for its tablets to improve sustained performance and reduce overheating issues. Apple also reportedly plans to launch a redesigned entry-level MacBook Pro, codenamed K104, in the first half of next year. This 14-inch laptop will feature a completely new design, consistent with Apples upcoming high-end touchscreen MacBook, which is expected to be released between the end of this year and the beginning of next year.BHP Billiton (BHP.N): Has submitted an environmental permit application and plans to invest $1.5 billion to reactivate the Cerro Colorado copper mine in Chile.

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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