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The Hang Seng Tech Index fell by more than 2%.On June 11, it was reported that from June 9 to 10, Zhao Long, Governor of Fujian Province, conducted a special investigation on the development of the service industry in Fuzhou and chaired a symposium with service industry enterprises to solicit their opinions and suggestions. He emphasized the need to deepen digital empowerment, expand application scenarios, cultivate and develop new business forms and models such as "artificial intelligence + services," and promote the extension of productive service industries towards specialization and the high end of the value chain. He also stressed the importance of increasing high-quality supply, strengthening brand cultivation, improving the standard system, and promoting the high-quality, diversified, and convenient development of consumer service industries, focusing on key areas such as resident services, elderly care and childcare, health services, and cultural, tourism, and sports services.Hong Kong-listed tech stocks saw some gains, with Kuaishou (01024.HK) rising over 3%, Bilibili (09626.HK) and Tencent Holdings (00700.HK) both rising over 2%, and NetEase-S (09999.HK), Tencent Music (01698.HK), Meituan (03690.HK), Baidu (09888.HK) and other stocks following suit.N Jinge opened 450%.June 11th – Today (June 11th), the Ministry of Industry and Information Technology and the Ministry of Culture and Tourism jointly launched the 2026 National Tour of Famous Consumer Products, taking multiple measures to enhance the matching of supply and demand for consumer goods and promote the upgrading of consumption quality. It is understood that the 2026 National Tour of Famous Consumer Products will host a series of activities, including debut shows and exhibitions of trendy fashion products, continuously soliciting famous Chinese consumer products, focusing on areas such as experiential manufacturing, fashion consumption, and the silver economy, and exploring innovative products, key technologies, and application scenarios. The event will include a cultural and creative market, revitalizing old factory buildings to create "time workshops" and other popular tourist attractions, promoting the integrated development of the consumer market; simultaneously, pop-up stores will be set up in urban business districts and transportation hubs, improving the rural logistics network, and building high-quality consumption spaces in rural areas. This event will also include more than 20 key activities such as a consumer products conference, an industry innovation competition, and an arts and crafts expo, covering multiple provinces and cities throughout the year, providing strong support for stabilizing growth, expanding consumption, and benefiting peoples livelihoods.

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

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