Industrial Investment: The United States Wants to Exempt Salary Tax The US dollar rebounded sharply

Industrial Investment: The United States Wants to Exempt Salary Tax The US dollar rebounded sharply

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Fundamentals

The US dollar index rebounded from its oversold on Tuesday and is expected to be pushed forward by the Trump administration0Driven by the positive news of salary tax, the increase has been expanded. The previously plummeting US dollar rebounded, suppressing non US currencies, and safe haven currencies experienced even more sharp declines as market sentiment eased. Commodity currencies have also weakened significantly, with the Canadian dollar experiencing the most severe decline.

At the meeting between President Trump of the United States and the Republican Senate on Tuesday, he made clear two options for the economic burden reduction plan to deal with the impact of the COVID-19 epidemic, that is, either to implement it0%The salary tax will either be permanently reduced until the end of the year, but the two sides have not reached an agreement yet. After meeting with Speaker of the US House of Representatives Pelosi, the US Treasury Secretary stated that the Treasury Department can take partial measures alone to reduce economic burden.

In addition, Russia has stated that it has not ruled out the possibility of taking joint measures with OPEC to stabilize the market, and has also eased the tension caused by the sharp drop in oil prices. However, the current increase in oil production by Russia and Saudi Arabia to seize the market still poses uncertainty for the oil market. Saudi Arabia has revealed plans to4Monthly supply123010000 barrels/daycrude oil, far higher than currently97010000 barrels/Daily level. Russia has stated that it will increase daily production by no more than30Ten thousand barrels, the country's idle production capacity is5010000 barrels/Day.

At present, the COVID-19 is still spreading rapidly around the world, but many countries have introduced stimulus measures, which is expected to ease the panic in the market. However, prevention and control measures will inevitably cause economic losses. Central banks of various countries may still take interest rate cuts or even launch a new round of easing policies, which will impact our currency. Therefore, we still need to guard against the sharp rise and fall of the market.

Focus on the UK's first fiscal budget since Brexit today. Previously, the market expected the UK government to reduce taxes and increase spending. If the budget disappoints the market, it will hit the pound. Conversely, the pound may be boosted by the UK government's loose fiscal policy. In addition, pay attention to the United StatesCPIHowever, the current market believes that the Federal Reserve will continue to3Monthly interest rate reduction50The expectation of one basis point is that the impact of US economic data may be limited, and the current rebound of the US dollar still lacks strong news support.

Technical aspect

euro/dollar

The daily chart includes the Twilight Star, and the random indicators tend to further decline, or further correct the previous gains.4Hour chart from1.1500The lower part is obstructed, oscillating and falling back, or further falling towards the previously rising waves38.2%Fibo rollback1.2220Nearby. The low and high points on the hourly chart continue to move downwards, still bearish. Suggestions for the day1.1330Short below, break below1.1270Follow up on short selling.

support level ： 1.1270 1.1220 1.1200

Resistance level: 1.1330 1.1360 1.1400

pound/dollar

The daily chart includes the stars of dusk, and the random indicators tend to further decline,4After a sharp downward trend in the hourly chart, the waves temporarily rose before this61.8%Fibo rollback1.2900Frontline organization, focusing on whether the level of this level can be stabilized. The hourly chart fluctuates downward, with limited short-term rebound strength. Suggest cautious operation within the day, slightly inclined1.2935Short below, look1.2850。

Support position: 1.2850 1.2800 1.2770

Resistance level: 1.2935 1.2970 1.3000

dollar/Japanese yen

Daily chart oversold and rebounded, with random indicators tending to further rise, but encountering a downward trend above10The daily moving average is suppressed, and for the time being, it is expected to fluctuate.4The hourly chart fluctuates upwards,MA5/10Golden cross or provide support. The high and low points of the hourly chart gradually move upwards, and the rebound trend remains intact. Intraday tendency104.60Long positions in first tier light positions, let's take a look first106.00Near.

Support position: 104.60 104.20 104.00

Resistance level:105.90 106.10 106.40

gold

Daily chart down but affected by upward trend10Daily moving average support, short-term fluctuations may occur.4The hourly chart fluctuates downward, and the long short competition is slightly weaker. The hourly chart is currently available1640Stable on the front line, but rebounding or encountering challenges1660Nearby resistance is suppressing. Suggestions for the day1660Short selling on the front line, paying attention to1640Nearby support.

Support position: 1653 1642 1632

Resistance level: 1660 1668 1672

silver

The daily chart has slightly stabilized but lacks rebound momentum and remains weak.4Small scale exploration of hourly chart17.20The horizontal below is obstructed, and it is expected that the rebound space will be limited. Hour chart up inMA200Backward from obstruction but stabilizing16.80On the front line, a rebound may still be affectedMA200Restrictions. Suggestions for the day17.10Short on the front line, break down16.90follow-up.

Support position: 16.90 16.80 16.70

Resistance level: 17.10 17.15 17.25