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On April 2, JD.com issued a salary increase notice that Dada employees salaries will be upgraded to 19 salaries this year and to 20 salaries next year; in addition, some outstanding Dada employees will be awarded JD.com Group stocks.On April 2, CICC published a research report stating that due to the decline in coal prices, Yankuang Energy (01171.HK)s net profit fell 27% year-on-year last year, and its performance was roughly in line with the banks expectations. The bank expects the groups H-share earnings per share to be 9.2 billion and 11 billion yuan this year and next year, respectively. Although the decline in coal prices may drag down Yankuang Energys profits in the short term, in the long run, the group has huge growth potential and is optimistic about its profit growth. The bank maintains the groups outperform rating. Due to the slowdown in supply and demand and the decline in short-term profits, the H-share target price was lowered by 38% to HK$10, equivalent to a forecast price-to-earnings ratio of 10.3 times and 8.4 times this year and next year, respectively.Hong Kong-listed UBTECH Robotics (09880.HK) once rose by more than 7% during the session, but the increase has now narrowed to 5%.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: If tariff measures are implemented, we will quickly set up a special consultation window and provide capital flow and financing support.Ideal Auto (02015.HK): It took 31 months for the cumulative delivery volume of Ideal L series to exceed 1 million!

The US Dollar Rapidly Returns to the Highs - Threatening a Topside Break

Drake Hampton

Apr 24, 2022 10:48

It's been a hectic week throughout markets, and from where we sit with only a few hours remaining till the week's finish, the big story is the reintroduction of bears into US stocks.

 

Yesterday was particularly significant since statements from FOMC Chair Jerome Powell were interpreted in a fairly hawkish manner, which boosted the US Dollar as stocks continued their downward trend from the Q2 beginning.

 

The US Dollar had been threatening a pullback earlier this week, and the statements from Chair Powell and a few other Fed members have contributed to it being a very short-term move. Following a new high on Tuesday, equities fell on Wednesday, and the decline continued into Thursday morning. However, the USD low appeared around the Euro open on Thursday morning, and bulls have been hard at work since then, forcing a series of breakouts. They may not be finished yet, as buyers are already bristling at the freshly achieved yearly high.

 

The levels I examined on Wednesday morning were significant for the move because a preceding level of support coincided with Thursday's breakthrough resistance, displayed at 100.27. This resulted in a breakout to the following level of resistance at 100.57. And that was breached overnight, allowing for the next area of resistance to be built at the previously established yearly high of 101.02. Additionally, there is still bullish breakout potential as the currency is exhibiting a v-shaped reversal, which leaves the door open for additional rises that might result in another new yearly high.

 

Notably, we are rapidly nearing the FOMC's blackout period, and the bank's May rate decision is projected to be the first in recent memory to raise rates by 50 basis points. Bullish potential exists on both the fundamental and technical levels.

US Dollar Hourly Price Chart

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