EURUSD is moving in Descending channel and the market has fallen from the lower high area of the channel.
U.S. Treasury Secretary Janet Yellen said Thursday the United States would resume economic talks with China at an appropriate time as Beijing continues to sell its vast stock of Treasury’s and as Washington warns against possible sanctions violation in relation to Russia. U.S. President Joe Biden and Chinese President Xi Jinping both called for more cooperation when they met virtually in November.
XAUUSD is moving in Descending channel and the market has fallen from the lower high area of the channel.
Earthquake survivors deal with trauma in Turkey and Syria, Israel conducts deadliest raid on occupied West Bank in years, and more of the president’s opponents are arrested in Tunisia. After enduring not one but two devastating earthquakes, the people of Turkey and Syria have been subjected to two more, these on the order of magnitudes 6.3 and 5.8, and only three minutes apart. They were no doubt terrified of a repeat of those incredibly powerful earthquakes from two weeks ago, whose death toll only keeps going up, and now stands at almost 50,000.
USDJPY is moving in Ascending channel and the market has rebounded from the higher low area of the channel.
A metal sphere that washed up on a beach in Japan, perplexing locals and setting off widespread speculation, has been removed, according to local media. Local officials in Hamamatsu said that it will be stored for a certain period of time then disposed of. But many have also questioned why Japanese officials have not come out and clearly said what it is. Many also questioned on social media why Japanese officials have not explained what it is. Others have voiced embarrassment at the whole episode.
USDCHF is moving in Ascending channel and the market has reached the higher low area of the channel.
US President Joe Biden announced nearly half a billion more dollars of US military aid to Ukraine during a surprise visit to Kyiv this week. That’s on top of billions the US has already spent on Ukraine’s conflict with Russia. Congress appropriated more than $112bn (£92.47bn) in 2022 alone. The US is the largest contributor to Ukraine in terms of money spent. But a year into Russia’s invasion, some Americans are wondering where the money goes and if the aid is worth the cost.
GBPUSD is moving in Descending channel and the market has reached lower high area of the channel.
A massive winter storm that brought blizzards and subfreezing temperatures to much of the US has left nearly a million households without power. The number of customers without electricity has grown to over 945,000 across five states on day two of the storm, 820,000 in Michigan alone. Over 6,000 US flights were cancelled or delayed on Thursday. Meanwhile, other parts of the US experienced unusually warm weather.
GBPJPY is moving in Ascending channel and the market has fallen from the higher high area of the channel.
A visit by Prime Minister Fumio Kishida to Ukraine would be welcomed and would help give him a more accurate view of the situation on the ground, Ukraine’s ambassador to Japan said Friday. After visits earlier this week by U.S. President Joe Biden and Italian Prime Minister Giorgia Meloni, Kishida is now the only Group of Seven leader who has not visited Ukraine since the war began, and pressure is growing on him to make the trip. While there are security concerns about the journey to the war-torn country, Korsunsky pointed to the successful visit by Biden, saying that he was sure a Kishida visit could also be safely arranged.
CHFJPY is moving in Descending channel and the market has reached lower high area of the channel.
Japan pledged $5.5 billion in humanitarian aid to Ukraine on Monday, nearly quadrupling the amount of money Tokyo has promised to Kyiv since Russia invaded its neighbor nearly a year ago. Tokyo had previously pledged to send Kyiv $600 million in financial assistance and $700 million worth of humanitarian aid including medical supplies and food assistance. It also joined Western allies in imposing strict sanctions on Russia over its invasion.
AUDNZD has broken the higher low area of the Ascending Channel.
Parts of cyclone-stricken New Zealand could see heavy rains from Thursday as relief and recovery efforts continue and tens of thousands remain without power after Cyclone Gabrielle tore across the country’s North Island last week. The cyclone hit the North Island’s northernmost region on Feb. 12 and tracked down the east coast, inflicting widespread destruction and killing at least 11 people. Prime Minister Chris Hipkins has called Gabrielle New Zealand’s biggest natural disaster this century.
CADJPY is moving in Descending channel and the market has rebounded from the lower low area of the channel.
If Japan and the U.S. were to become involved in a conflict between China and Taiwan, they would be able to prevent Beijing’s takeover of the island, but at a heavy cost to their military personnel and equipment, think tank simulations show. The Chinese military established a command center for the Taiwan front capable of deploying all air, submarine and surface vessel capabilities. The U.S. military responded by sending nuclear-powered aircraft carriers and state-of-the-art fighter jets to areas in and around Taiwan.
Crude Oil Analysis
Crude Oil is moving in Descending channel and the market has fallen from the lower high area of the channel.
China has agreed to loan Pakistan $700m (£580m) to help it weather its worst economic crisis in a generation, in a development that will intensify concern among western countries about cash-strapped Islamabad’s debt burden to Beijing. The loan comes on top of $30bn (£25bn) that Pakistan already owes China and Chinese commercial banks. Securing the financing will help to unlock bailout cash from the International Monetary Fund (IMF). Pakistan’s foreign debts amount to about $100bn (£83bn), meaning that the share owed to China is just under one-third.
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