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On May 9th, the Hebei Securities Regulatory Bureau emphasized its requirements regarding securities transaction commission standards. The notice stipulates a minimum commission rate, specifying that A-share, B-share, and mutual fund transaction commissions will be subject to a maximum ceiling with downward fluctuations. Malicious low-price competition is strictly prohibited, and commissions must not be lower than the combined costs of collected securities transaction regulatory fees and securities exchange handling fees, ensuring the healthy and orderly development of the industry. Furthermore, the notice strictly prohibits the use of unfair means such as cash rebates, gifts, or providing non-securities services to attract customers.On May 9, Ibrahim Manzo Diallo, president of the Niger National Communications Observatory, announced on May 8 that the country would suspend the broadcasting of approximately 10 French media outlets, citing their repeated dissemination of content that "may seriously endanger public order, national unity, social cohesion, and the stability of the republics institutions."On May 9, the Beijing Securities Regulatory Bureau disclosed an administrative penalty decision, in which Feng Pengpeng and Ban Keke were punished for fabricating and disseminating false information involving chip orders of listed companies, thereby disrupting the securities market. Their illegal gains were confiscated, and they were fined 200,000 yuan and 250,000 yuan respectively.May 9th - Data released today by the General Administration of Customs shows that in the first four months of this year, my countrys total import and export value of goods reached 16.23 trillion yuan, a year-on-year increase of 14.9%, continuing its strong growth momentum. In the first four months, my countrys exports of electromechanical products reached 5.92 trillion yuan, an increase of 17.6%, accounting for 63.5% of my countrys total exports. Among them, exports of green and low-carbon products such as electric vehicles, lithium batteries, and wind turbine generators increased by 68.1%, 43.2%, and 40.7% respectively, while exports of industrial robots increased by 30%.On May 9th, Ant Financial released its trillion-level flagship thinking model, Ring-2.6-1T, designed specifically for complex real-world tasks. The model innovatively introduces an adjustable Reasoning Effort mechanism, supporting two levels of inference intensity: high and xhigh. In real-world task execution benchmarks, it scored 87.6 on PinchBench, outperforming GPT-5.4x High, Gemini-3.1-Pro high, and Claude-Opus-4.7x high. In challenging inference tasks, ARC-agi-V2 scored 77.78, placing it on par with Gemini-3.1-Pro high and Claude-Opus-4.7x high.

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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