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LG Electronics shares rose 1.8% to 80,400 won.South Korean Finance Minister Koo Yun-chul: It is necessary to conclude the tariff negotiations with the United States as soon as possible, and we are coordinating the schedule for talks with U.S. Treasury Secretary Benson.On October 13th, Haier Group announced that it and Ant Group held a signing ceremony for a comprehensive strategic cooperation agreement on October 11th. With this signing, both parties will leverage their respective strengths in the real economy and digital technology sectors, focusing on user scenarios and ecosystem co-development. This will enable multi-dimensional, in-depth collaborative innovation and accelerate the exploration of the digital development of the industry. According to the agreement, the two parties will further collaborate in areas such as digital payments, healthcare services, and the co-development of the car-home ecosystem.The Hang Seng Volatility Index surged 20%, hitting its highest level since May 2025.According to data from the China Passenger Car Association (CPCA) on October 13th, new energy passenger vehicle production reached 1.501 million units in September, a year-on-year increase of 22.9% and a month-on-month increase of 17.5%. Cumulative production from January to September reached 10.376 million units, a 32.2% increase. Wholesale sales of new energy passenger vehicles reached 1.500 million units in September, a year-on-year increase of 22.4% and a month-on-month increase of 15.9%. Cumulative wholesale sales from January to September reached 10.444 million units, a 31.9% increase. Retail sales of new energy passenger vehicles reached 1.296 million units in September, a year-on-year increase of 15.5% and a month-on-month increase of 16.2%. Cumulative retail sales from January to September reached 8.866 million units, a 24.4% increase. In September, new energy passenger vehicle manufacturers exported 211,000 units, a year-on-year increase of 96.5% and a month-on-month increase of 3.9%. Cumulative exports from January to September reached 1.627 million units, a 67.5% increase.

The Dollar Index's Top-to-Bottom Reversal Indicates a Potential Momentum Shift

Drake Hampton

Apr 11, 2022 10:52

On Friday, the US Dollar fell versus a basket of foreign currencies after gaining more than 100 points for the first time in over two years. It reached a high of 100.20 during the session, its highest level since May 2020.

 

Despite the fact that it formed a potentially bearish closing price reversal top, it ended the week up 1.3 percent. Throughout the week, the dollar index was mostly supported by a rise in US Treasury yields and a weaker Euro.

 

The June US Dollar Index closed at 99.753 on Friday, down 0.007 or -0.01 percent. The Invesco DB US Dollar Index Bullish Fund ETF (UUP) closed at $26.68, an increase of $0.01 or 0.02%.

 

On Friday, the US Treasury 10-year yield surpassed 2.7 percent for the first time in three years, aided by the likelihood of more aggressive Federal Reserve tightening. Additionally, this week's release of the Fed's March meeting minutes revealed that "many" members were prepared to raise rates in future months in 50-basis-point increments.

 

In other news, the Euro was under pressure as the election battle between President Emmanuel Macron and far-right contender Marine Le Pen tightened in France, the Euro Zone's second-largest economy. Macron continues to lead polls.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the primary trend is upward. However, Friday's closing price reversal top implies that momentum is about to move downward.

 

A move above 99.745 will confirm the price reversal top at the close. This could initiate a 2-3 day adjustment. A break of 100.200 will invalidate the chart pattern and suggest the resumed uptrend. The primary trend will revert to the downside upon a break of 97.730.

 

Minor values range from 97.730 to 100.200. The nearest support level is at its 50% level, or pivot, of 98.965.

 

The critical support level is the long-term Fibonacci retracement level around 98.200.

Scenario of the Bear

Persistent movement below 99.975 indicates the existence of sellers. Taking out 99.745 will confirm the price reversal top at the close. If this generates sufficient downside momentum, expect the selling to extend towards the minor pivot at 98.965.

Scenario of Bullishness

Sustaining a move over 99.975 indicates the presence of buyers. The initial objective on the upside is 100.200.

 

If 100.200 is breached, the closing price reversal top will be invalidated, signaling the resumption of the uptrend. If buying is sufficiently strong, we may see an acceleration to the upside, with the next big objective of 100.560 – 100.930.

 

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