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Broadcom (AVGO.O) shares fell 11% in pre-market trading after the company forecast lower-than-expected second-quarter revenue.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.On June 4th, the Ministry of Commerce held a regular press conference. The Ministry announced on June 1st that Australian beef imports had reached 90% of the annual national quota. If imports reach this threshold, will the Ministry of Commerce automatically apply safeguard tariffs this year? Or did the Ministry consider other factors before making a decision? Ministry of Commerce spokesperson He Yongqian stated that the Ministry of Commerce will issue an announcement on December 31, 2025, implementing safeguard measures for imported beef, in the form of "national quotas and additional tariffs beyond the quota." To improve the transparency of the measures implementation, the Ministry of Commerce and the General Administration of Customs will issue relevant notifications when a countrys imports reach a certain percentage of the annual national quota, and when that quota is reached. I want to emphasize that the safeguard measures for imported beef are intended to help domestic industries overcome difficulties in the short term, not to restrict normal beef trade. The Chinese market has always been open, and China is willing to work with all parties to jointly maintain a stable and healthy international trade environment.The South Korean won fell to its lowest level against the US dollar (KRW/USD) since March 2009.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.


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