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The Society of Motor Manufacturers and Traders (SMMT) reported that new car registrations in the UK rose 7.1% year-on-year in May, reaching 160,662 vehicles.Broadcom (AVGO.O) shares fell 11% in pre-market trading after the company forecast lower-than-expected second-quarter revenue.On June 4th, data from the China Automobile Dealers Association showed that from May 25th to May 31st, 2026, the average daily transaction volume in the national used car market was 71,100 vehicles, a 3.93% decrease compared to the previous week (May 18th-May 24th). The upward trend of the previous two weeks ended, and the market entered a period of correction. The pace of end-user demand slowed, some dealers suspended bulk restocking, and consumers in many regions adopted a wait-and-see attitude towards purchasing cars at the end of the month, leading to a decline in the average daily transaction volume. The short-term market recovery is under pressure, and the pace of demand recovery needs to be continuously monitored. This week, the used car market in the six major regions of China experienced an overall correction, with transaction volume in most regions declining compared to the previous week. Significant differences in market performance were observed among cities within these regions. The North China and Southwest regions maintained slight growth, while the Northeast, East China, Northwest, and Central South regions saw varying degrees of decline in transaction volume, indicating significant differences in the operating rhythm of each regional market.On June 4th, the Ministry of Commerce held a regular press conference. Ministry of Commerce spokesperson He Yongqian stated that the recently released "Regulations of the State Council on Outward Investment" will, for investors, firstly, strengthen services by improving the comprehensive overseas service system and refining institutional measures from multiple dimensions to provide strong legal guarantees for enterprises participating in international cooperation and competition. Secondly, optimize management by improving the outward investment management system and strengthening the primary responsibility of investors. Thirdly, strengthen protection by enhancing monitoring, early warning, and risk assessment, guiding and assisting investors in preventing security risks, and establishing an investment barrier investigation system to effectively safeguard the safety and legitimate rights and interests of investors and their outward investments. As the competent department for outward investment, the Ministry of Commerce will work with relevant departments and local governments to ensure the effective implementation of the "Regulations," provide guidance and services to investors, and continuously improve the level of outward investment services and management.European Central Bank President Christine Lagarde will speak in ten minutes.

Short-term bullishness on the AUD/JPY requires breaking the 20-day exponential moving average

Alina Haynes

Oct 13, 2022 14:41

 截屏2022-10-13 上午10.03.01.png

 

The AUD/JPY pair experienced fresh demand at the 92.00 round-level support during the Tokyo session. The cross's current momentum is projected to push the asset beyond the immediate barrier of 92.42 as the risk-on profile emerges in the market.

 

The cross has moved into the previous highest auction area on a four-hour timeframe, which is often referred to as the most recently traded range. The balanced profile has a range of 92.16 to 94.74. The fact that the asset is in the highest auction area suggests that it is having difficulty during the inventory adjustment phase and that a pivotal move is about to be made.

 

The cross has solidly positioned itself above the EMA at 92.00 for the 20-period time frame. While the 92.61 50-EMA is still unreachable.

 

The cross is no longer bearish since the Relative Strength Index (RSI) (14) has changed its range from 20.00 to 40.00 to 40.00 to 60.00.

 

The asset will go to the low of 92.93 on October 5 and the high of 94.22 on September 30 if the Wednesday high of 92.42 is broken.

 

On the other hand, a loss below Wednesday's low of 91.29 will send the asset in the direction of the August 2 low of 90.52. Bulls in the yen will continue to push the asset toward the psychological support of 90.00 if it gives up the cushion around 90.52.


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