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On August 2, Irans Mehr News Agency quoted an Iranian military official as saying that US President Trumps claim that Irans demand to stop its attacks was "a new lie." The official stated, "Whether he continues his aggression or retreats, our forces are on high alert and prepared for anything. If confrontation is inevitable, the battlefield will decide everything, and then everyone will understand who holds the power and who has the final say."August 2nd - According to Yonhap News Agency, Hyundai Motor Company and Kia Motors announced on Sunday that the two South Korean automakers sold over 100,000 electric vehicles in Europe in the first half of this year, aiming to strengthen their position in the region. Hyundai and Kia stated that they plan to sell a total of 131,032 electric vehicles in Europe in the first half of 2026, a significant increase of 41.8% from 92,365 vehicles sold in the first half of the year. The two companies expect that if the current sales momentum continues until the end of the year, annual electric vehicle sales in Europe will exceed 200,000 units for the first time since they entered the European electric vehicle market in 2014. As of May this year, their cumulative electric vehicle sales in Europe surpassed the 1 million mark.On August 2nd, in response to Trumps post claiming an agreement had been reached on the framework of a deal to cancel strikes against Iran, a CNN reporter pointed out that, according to reports from CNN and other media outlets, there is no indication that any proposals currently under discussion equate to "ending the Iranian nuclear threat." Details regarding the Strait of Hormuz remain extremely limited. Sources only indicate that it involves the possibility of some kind of potential agreement with Oman.August 2nd - According to the Beijing Railway Bureau, due to a rain warning, some trains on the Huairou-Miyun Line and the S2 Line of the Beijing Suburban Railway will be temporarily suspended today (August 2nd). Specifically, the following train numbers will be temporarily suspended: Huairou-Miyun Line S503, S504, S513, S514, S517, S518, and S523; S2 Line S205, S206, S287, and S288.On August 2nd, US President Trump posted on social media that the United States is prepared to confront Iran at a level of military deterrence, power, and strength unseen since World War II. Nevertheless, we have just received requests from Iran and other Middle Eastern countries to suspend any attacks, as a framework for an agreement has been reached. This will include the immediate, complete, and total opening of the Strait of Hormuz, and an end to Irans nuclear threat. Based on this request, I agree to cancel any attacks for the future interests of the world, and for the survival of a successful and prosperous Iran, provided that an agreement can be reached swiftly. The State of Israel shares this commitment with me. Lets get started and get this done.

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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