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October 10th - Panamas National Civil Defense System issued an updated statement on October 9th, local time. As of now, there are no reports of deaths or missing persons from the earthquake that struck Panama on the 9th. The earthquake has caused minor injuries to 27 people. Buildings, bridges, and roads were damaged in several provinces and cities, including Veraguas and Coclay, and power outages occurred in some areas. At 12:56 PM local time on October 9th, a 7.6 magnitude earthquake struck Panama, with strong tremors felt in the capital, Panama City, and other areas. Shortly after the earthquake, several aftershocks of magnitude 5 or higher occurred. According to two official announcements from the Panama Canal Authority, the earthquake and subsequent aftershocks did not affect the normal operation of the Panama Canal, and ship traffic remained normal.October 10th - TrendForces latest "2027 Infrared Sensing and Optical Communication Market Trends" report indicates that with the rapid growth in demand for scale-up (vertical expansion) network transmission within data centers, VCSEL NPOs are gaining attention due to their advantages such as low power consumption, high maintenance flexibility, and a relatively mature supply chain, with major manufacturers investing in their research and development. From 2027 to 2028, numerous VCSEL NPO solutions will emerge in the market. Coupled with the demand for short-range optical transceiver modules, the VCSEL market demand is projected to reach 650 million units by 2031, with a compound annual growth rate of 38% from 2025 to 2031.US President Trump: (When asked about hurricane preparations) Everything is under control.On October 10, Li Zhong, Vice Minister of Human Resources and Social Security, stated while introducing the relevant situation of promoting high-quality development of employment and social security during the "15th Five-Year Plan" period that the Ministry will improve the minimum wage adjustment mechanism, build a skills-oriented salary distribution system, and improve the long-term mechanism for addressing wage arrears.October 10th - According to South Korean media reports, ASML, the worlds largest semiconductor equipment manufacturer, will uniformly raise the prices of replacement parts supplied in South Korea by 10%. The new prices will take effect in January next year, and the price increase covers all components for EUV and DUV lithography machines. Industry insiders revealed that at the beginning of last month, ASML headquarters, through its South Korean branch, had already expressed its intention to raise prices to Samsung Electronics and SK Hynix. This price increase was finalized after consultations with the purchasing departments of the two companies.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.