Financial Calendar
April 24 (Wednesday) Data and Financial Events (Beijing Time)
04:30 US Crude Oil Inventory for the week ending April 19
09:30 Australia CPI Annual Rate for Q1
Australia March CPI Annual Rate Unadjusted
16:00 Germany IFO Business Climate Index for April
Switzerland ZEW Investor Confidence Index for April
18:00 UK CBI Industrial Order Difference for April
20:30 Canada Retail Sales Monthly Rate for February
22:30 US Crude Oil Inventory for the week ending April 19
US Crude Oil Inventory at Cushing for the week ending April 19
US Strategic Petroleum Reserve Inventory for the week ending April 19
April 25
01:30 Bank of Canada publishes Monetary Policy Meeting Minutes
Market Review
On Tuesday, the US S&P Global Manufacturing PMI preliminary value for April was recorded at 49.9 and the S&P Global Composite PMI preliminary value at 50.9, both hitting a 4-month low; the US S&P Global Services PMI preliminary value for April was 50.9, a new low in 5 months. An unexpected cooling in the PMI data led to a continuation of the dollar index's decline, closing at 105.69.
Today's Focus
Dollar Index: Yesterday it broke below the neckline, forming a short-term top formation. Pay attention to short positions on a pullback. Resistance lies in the 106.3-105.5 area, with short opportunities considered near 106 on a pullback.
Euro to Dollar: The current price has reached the 1.07 area, a previous top-bottom reversal zone. Short-term patterns suggest a double bottom uptrend, with buying opportunities if resistance is met in this area. Watch for support around the 1.065 area, with buying opportunities on a rebound.
British Pound to Dollar: The price has rebounded sharply from the 1.23 support area. In the short term, prices are in a previous declining start area. Continue to monitor this area for testing. If the upward movement continues, pay attention to the resistance area between 1.252-1.254 for selling opportunities.
Dollar to Yen: The market continues to fluctuate narrowly. Be cautious about chasing highs before effectively breaking above 155. Watch this currency pair closely ahead of the Bank of Japan's interest rate decision on Friday. Strong support remains at the 152 area.
Australian Dollar to Dollar: After a sharp reversal, watch for resistance in the 0.654-0.0656 area in the short term. Aggressive traders can continue to look for buying opportunities around the 0.645 area today, while conservative traders should watch the 0.641 line, with stop losses below 0.636.
Dollar to Canadian Dollar: The downward trend continues, with no significant support evident after breaking below the 1.366 support in the short term. Wait for a rebound to continue short positions, with the next level of support around the 1.355 line. Watch for a rebound to the 1.37-1.372 resistance area for opportunities.
Crude Oil: Prices continue to fluctuate widely, with an upward move after testing below 81 yesterday. In the short term, continue to scale down long positions below 81. Resistance lies in the 85-85.5 area, with opportunities for further long positions upon reaching these levels.
Gold: The price broke below the 2324 neckline yesterday, showing a short-term double top pattern. Pay attention to opportunities for continued decline after a rebound, with major support at the 2250 line. Aggressive short positions can consider the resistance area of 2330-2340 on a rebound.
S&P Index: After breaking above 5060, the short-term downtrend has ended. Currently, watch the previous downturn's 61.8% rebound area, being cautious of chasing highs before effectively breaking above 5140-5160. Watch the 5000-5020 support area for buying opportunities on a stable pullback.
Bitcoin: The large fluctuation range between 59000-73000 remains unchanged, with a continued upward trend in the short term. Watch for support around the 64000 area today, with opportunities for buying on a pullback that does not break below. Stop losses should be considered below 62900.
