Seeking Alpha curtesy
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Vladimir Putin has landed in Beijing for a two-day state visit, where he was greeted by Chinese leader Xi Jinping with a red-carpet welcome and a full military band. The trip will build on their commitment to the “no limits” relationship they signed at the Winter Olympics in 2022, just before the full-scale invasion of Ukraine. As Russia becomes isolated from the West on the world stage, it has sought to boost trade in the East and elsewhere, helping prop up its economy in the face of sanctions.
Quote: “Relations between Russia and China are not opportunistic and not directed against anyone,” Putin declared. “Our cooperation in international matters is one of the stabilizing factors in the international arena.” Xi echoed the sentiment, adding that China will “work together to achieve the development and rejuvenation of our respective countries” and “to uphold equity and justice in the world.”
Trade between the two nations has soared to record levels, rising 26% last year to $240B and hitting targets ahead of schedule. Russia has even overtaken Saudi Arabia as China’s main oil supplier, while the latter sends back key commodities, vehicles and other consumer goods. Trade has also seen Russia’s economy top expectations to expand by 3.6% in 2023, according to the IMF, despite Western efforts aimed at draining the Kremlin’s war coffers.
Reaction? Wall Street Breakfast ran a survey last November, and again this week, on how the U.S. should manage its economic relationship with China. The biggest changes over the past six months showed that more subscribers have less faith in rapprochement and trade deals (24% to 15%), while a greater number believe decoupling and sanctions are the way to go (11% to 19%). It’s noteworthy as Washington has recently threatened additional sanctions on Chinese banks and entities that handle Russian trade involving dual-use goods that can be used for both civilian and military purposes. How does all of this factor into your investing decisions?
AUDUSD 4 HOUR CHART – Consolidating?
AUDUSD will likely follow the general USD lead on Friday
Key levels are highlighted on this chart, anything within them would just be a consolidation
Judging by the pause above .6650, this level will be pivotal in keeping a bid focused on .67+
Below .6650-55 would put .6628 in play.
Given the way risk on has helped drive the USD lower, keep an eye on US stocks as they could influence the fx market.
NAS100 4 HOUR CHART – READY FOR A BREATHER?
Those trying to pick a top in US stock indices have found it a painful experience and I am not going to do so now.
With that said, perhaps the DJIA’s failure to hold its long-awaited test of 40000 is saying it is time to take a breather.
What I have done on this chart is highlight the key levels.
On the upside, the only level that matters on top is the new record-high
On the downside, line up the highlighted red support line. on your vhartt
XAUUSD 4 HOUR CHART – Taking a breather
I must be doing something right as there is no change to what I posted earlier
XAUUSD CAME CLOSE TO 2400 BUT HAS BACKED AWAT. MAJOR LEVEL REMAINS ABOVE 2400.
RISk IS STILL POINTED UP AS LONG AS IT STAYS ABOVE 2351 (DOES THIS LEVEL, I.E. 2350, SOUND FAMILIAR> BUT ANYTHING XAUUSD CAME CLOSE TO 2400 BUT HAS BACKED AWAT. MAJOR LEVEL REMAINS ABOVE 2400.
RISk IS STILL POINTED UP AS LONG AS IT STAYS ABOVE 2351 (DOES THIS LEVEL, I.E. 2350, SOUND FAMILIAR> BUT ANYTHING OTHER THAN A BREAK OF 2430 KEEPS THE CURRENT RANGE OTHER THAN A BREAK OF 2430 KEEPS THE CURRENT RANGE
BTC 4 HOUR CHART – FOCUS ON 65000
i POSTED THIS LATE YESTERDAY AND THERE IS NO CHANGE TI THE WAY i LOOK AT THIS CRYPTO
Technical traders may like this but I am not sure about how valid technical levels are in something that can move 5-10% in one day.
This is why I prefer to focus on psychological or what I call “magic” levels such as 60k,65k, and 70k.as well as the patterns formed on a chart
In this regard, 65000 is now a key level that needs to HOLD to put 70000 back on the radar.
USDX DAILY CHART – PAUSED ABOVE KEY INTERSECTING LEVEL
The run to the downside paused above the key 103.93 level, both at a chart point and intersecting with the key trendline.
The significance of 103.93 is it is the last at LOW BEFORE THE HIGH AND THUS THE KEY LEVEL ON THIS CHART. A firm break would be needed to confirm the end of the USD uptrend.
On the upside, still bearish if it stays below 104.61.
Note EURUSD is 57.6% of the index.
FOR THOSE WHO MISSED THIS OR WERE TO REMIND YOURSELF, IT IS WORTH READING
This is a really good tip to keep in mind,… Look at THE price action so far in the US session
Actionable Forex Trading Strategy When to Fade a Correction
Actionable Forex Trading Strategy When to PORICE Fade a Correction
interesting …
“EXCLUSIVE (WSJ)
Russian Spacecraft Tested Components for Antisatellite Weapon, U.S. Says”
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actually there is nothing new about this type of toys. they date back decades.
the only thing that might be new(s) is if anyone or all start to … biding badang each others’ satellites.
my Q is … how would I manage my trades , eh ?
10-yr Yield | 9:59 AM EDT 4.369%
still stinks
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If neel k wanted my nickle’s worth: the FED’s monetary policy is nowhere near exerting downward pressure on the economy.
I d still inform him that it is NOT an unknown and that he should get in line with his chairman’s “higher for longer”. ditto for williams.
I am currently bit perplexed what game these two suits are playing.
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