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On March 25th, Gu Ming (01364.HK) announced its 2025 revenue of RMB 12.914 billion, a year-on-year increase of 46.9%; gross profit of RMB 4.262 billion, a year-on-year increase of 58.6%; net profit for the year of 3.115 billion, a year-on-year increase of 108.6%; profit attributable to owners of the parent company of RMB 3.109 billion, a year-on-year increase of 110.3%; adjusted profit of RMB 2.575 billion, a year-on-year increase of 66.9%; adjusted core profit of RMB 2.808 billion, a year-on-year increase of 77.8%; basic earnings per share of RMB 1.34, a year-on-year increase of 88.7%; and diluted earnings per share of RMB 1.08, a year-on-year increase of 52.1%. The Board of Directors recommends a final dividend of HKD 0.50 per share.According to a Reuters poll, 21 out of 60 economists believe the European Central Bank will raise interest rates at least once in 2026 (compared to 3 out of 72 economists in a March 13 poll).According to a Reuters poll, 38 out of 60 economists believe the European Central Bank will keep its deposit rate at 2.00% throughout 2026.On March 25th, the Beijing Municipal Commission of Planning and Natural Resources released its second round of proposed residential land supply list for 2026, involving four plots with a total area of approximately 22 hectares and a building area of approximately 380,000 square meters. These plots are planned for supply in the near future. All plots offered in this round are located in areas with strong market demand and well-developed infrastructure and public services. In terms of regional distribution, one plot is located in the central urban area (Fengtai District), two plots are located in the sub-center and multiple plain areas (Tongzhou District), and one plot is located in the ecological conservation area (Huairou District).On March 25, Assistant Minister of Commerce Yuan Xiaoming and Secretary for Economy and Finance of the Macao Special Administrative Region Government Tai Kin Ip co-chaired the eighth meeting of the Mainland-Macao Economic and Trade Cooperation Committee. Yuan Xiaoming stated that 2026 marks the start of the 15th Five-Year Plan. Macao is currently drafting its 3rd Five-Year Plan. Holding this meeting of the Mainland-Macao Economic and Trade Cooperation Committee at this time is of great significance for supporting Macaos proactive alignment with the 15th Five-Year Plan and deepening bilateral economic and trade relations. The Ministry of Commerce will further promote the expansion and implementation of CEPA, support Macaos participation in the Belt and Road Initiative, assist Macao in building a platform between China and Portuguese-speaking countries, and promote the moderate diversification of Macaos economy.

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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