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On July 13, a spokesperson for the UN Secretary-General issued a statement on July 12, saying that Secretary-General Guterres expressed deep concern over the serious escalation of the situation in the Gulf region and the renewed outbreak of military confrontation, urging Iran and the United States to urgently resume negotiations and resolve outstanding issues through diplomatic means. The statement said that all attacks must cease. The Secretary-General called on all parties to exercise maximum restraint, refrain from actions that would further escalate the situation, and to take immediate measures to de-escalate it. The statement emphasized that a return to full-scale hostilities would have disastrous consequences for the people of the region, international peace and security, and the global economy, and reiterated the necessity of restoring complete freedom of navigation in the Strait of Hormuz.July 13 – The U.S. Department of Justice is investigating allegations that United Auto Workers (UAW) President Shawn Fain abused his power and attempted to financially benefit his fiancée. Sources familiar with the matter said a lawyer hired to oversee the UAW mentioned the investigation last month in emails to Fain and the unions vice president, Rich Boyer, who will be Fains opponent in the upcoming election. In his latest report on the unions activities, released on June 25, the overseer stated that he determined Fain "acted improperly to financially benefit his fiancée." Fains fiancée works at a training center jointly operated by the UAW and automaker Sterlantis (STLA.N).July 13 – The latest epidemic report released by the Ministry of Health of the Democratic Republic of Congo on July 12 shows that the area affected by the current Ebola outbreak has increased to five provinces, with a total of 1,873 confirmed cases and 672 deaths. Chowpo and Haut-Uele provinces are listed as affected provinces for the first time. The report states that cases in both provinces are linked to the Nyania region of Ituri province. Previously, the Ebola outbreak affected Ituri, North Kivu, and South Kivu provinces. According to the report, 763 patients are currently in isolation or hospitalized, and 306 cases have recovered. The report also shows that South Kivu province has not reported any new confirmed cases since May 26, and as of July 7, it has reported no new confirmed cases for 42 consecutive days, twice the longest incubation period of the Ebola virus.On Monday, July 13, the Hang Seng Index opened down 17.47 points, or 0.07%, at 24,157.65; the Hang Seng Tech Index opened down 1.98 points, or 0.04%, at 4,719.68; the H-share Index opened up 3.07 points, or 0.04%, at 8,042.26; and the Red Chip Index opened up 14.61 points, or 0.38%, at 3,865.65.The Peoples Bank of China announced today that it conducted 224 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 224 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

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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