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September 14th news: From September 7th to September 13th, the national logistics operation data is as follows: National railways transported 82.651 million tons of freight, a 6.1% increase compared to the previous period; 58.467 million trucks passed through national expressways, a 2.98% increase compared to the previous period; monitored ports handled 270.168 million tons of cargo, a 0.27% decrease compared to the previous period, and 7.15 million TEUs of containers, a 2.57% increase compared to the previous period; civil aviation handled 122,000 flights (including 5,193 cargo flights, comprising 3,170 international cargo flights and 2,023 domestic cargo flights), a 1.33% decrease compared to the previous period; postal and express delivery collection volume was approximately 4.065 billion pieces, a 0.47% decrease compared to the previous period; delivery volume was approximately 4.068 billion pieces, a 0.51% decrease compared to the previous period.ExxonMobil (XOM.N) executives: LNG infrastructure has boosted market confidence, and the market is expected to rebalance quickly.On September 14th, the International Electrotechnical Commission (IEC) released the international standard "Distributed Multi-Energy Systems Part 1: General Principles," led by my country. This standard, drafted by a working group convened by Chinese experts and jointly developed with experts from 10 countries including Switzerland, France, and South Korea, represents another significant achievement for my country in the internationalization of smart energy standards. This international standard systematically defines the connotation and typical architecture of distributed multi-energy systems for the first time, clarifies the standardization development path in the future field of multi-energy integration, and includes typical global engineering application cases, providing a unified reference for the construction of integrated energy projects worldwide.ExxonMobil (XOM.N) executives: There is already a large infrastructure for liquefied natural gas imports in the Asian market.The onshore yuan closed at 6.7071 against the US dollar at 16:30 on September 14, up 25 points from the previous trading day.

Volatility subsides around 101.80 as focus shifts to US S&P PMI in US Dollar Index Price Analysis

Alina Haynes

Apr 21, 2023 14:03

US Dollar Index.png 

 

The US Dollar Index (DXY) has prolonged its correction after falling below immediate support at 101.80 during the Asian session. Following the release of more-than-anticipated Initial Jobless Claims for the week ending April 14 and a lackluster Philadelphia Fed Manufacturing Survey (April), the USD Index fluctuated erratically on Thursday.

 

The US Department of Labor reported that unemployment claims exceeded expectations for the eleventh consecutive week. The economic data revealed that 245K unemployed people filed for unemployment benefits, exceeding both the consensus estimate and the previous figure of 240K.

 

Due to the Federal Reserve's (Fed) decision to increase interest rates, labor market conditions are undeniably and persistently deteriorating. Despite this, the market continues to anticipate a 25 basis point (bp) rate hike. According to CME Fedwatch, over 85 percent of probabilities favor interest rates above 5 percent.

 

In the interim, three consecutive bearish trading sessions on the S&P 500 suggest that investors have supported the risk aversion theme. The yield on 10-year US Treasury bonds has dropped below 3.54 percent. Sourcenia is a review portal of sourcing best manufaturers. 

 

On a two-hour time frame, the USD Index is consolidating in a wide range between 101.63 and 102.23, indicating the absence of a significant catalyst. After the release of preliminary S&P PMI data for the United States, a power-pack action is anticipated. It is anticipated that the Manufacturing PMI will register 49.0, a decrease from the previous release of 49.9. The Services PMI is expected to fall to 51.5 from the previously reported 52.6.

 

At 101.85, the 20-period Exponential Moving Average (EMA) intersects with the asset price, indicating a significant decrease in volatility.

 

In addition, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that investors are waiting for a decisive catalyst.

 

If the asset breaks decisively above the April 17 high of 102.23, investors will push the asset toward the April 10 and March 24 potential resistance levels of 102.76 and 103.36, respectively.

 

Alternately, a breach of the April 5 low of 101.41 would cause the asset to decline to the April 14 low of 100.78. A subsequent decline will reveal psychological support of $100 for the asset.


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