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On January 11, UN Secretary-General Spokesperson Stephane Dujarric said on the 10th local time that the United Nations has noticed reports from both the United States and Russia that US President-elect Trump plans to hold talks with Russian President Vladimir Putin. The United Nations welcomes any dialogue between the United States and Russia after Trump officially takes office as president. US media reported on the same day that Trump is planning to hold talks with Putin to resolve the Ukrainian issue. In response, Russian Presidents Press Secretary Peskov said on the 10th that Russia welcomes Trumps willingness to resolve the issue through dialogue. Although there are no specific arrangements at present, there should be further actions after Trump takes office as president.On January 11, the South Korean government said on the 10th that the country will discuss the minimum age standard for the elderly in the near future to deal with issues related to the aging population. According to media reports, the South Korean government intends to raise the minimum age threshold for the elderly to 70 years old. This proposal was made by the Ministry of Health and Welfare of South Korea and has been reported to Acting President Choi Sang-moo. At present, the minimum age standard for the elderly in South Korea is 65 years old.On January 11, the weather in northern and western Japan near the Sea of Japan has been extremely cold recently, with heavy snowfall in large areas over the past few days. In particular, the snow depth in Suoyu, Aomori Prefecture reached 3.7 meters on the 10th. Due to the snowfall, some sections of Japans highways were closed, and some Shinkansen trains were suspended or delayed.British Chancellor of the Exchequer Reeves: The fiscal rules set in the October budget are "non-negotiable". Global financial markets have undoubtedly changed.On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.

EUR/USD Price Analysis: A Pullback Beyond the 1.0590-85 Support Confluence Remains Improbable

Alina Haynes

May 05, 2022 10:25

EUR/USD bulls appear to be running out of steam after rallying to the highest level since early March during Thursday's Asian session.

 

The recent weakening in the main currency pair could be attributed to the RSI being overbought.

 

Nonetheless, the quote retains the previous day's 200-HMA breakout, as well as several levels defined by a fortnight-long horizontal area centered on 1.0590-95. Thus, EUR/USD remains a target for buyers till it breaks through the 1.0590 barrier.

 

If the pair falls below 1.0590, a one-week-old rising support line around 1.0515 may act as a temporary halt on the way to the pair's recent multi-month low of 1.0471.

 

Meanwhile, the April 27 high near 1.0655 appears to be immediate resistance for EUR/USD buyers to monitor on the way up.

 

Following that, the 50% and 61.8 percent Fibonacci retracements of the April 21-28 fall will be monitored, respectively near 1.0700 and 1.0760.

 

EUR/USD is poised for a much-anticipated corrective fall following the Fed's latest action.

EUR/USD: Hourly Chart

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