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US Dollar Index Encounters First Bearish Hit

Mount Equity Group Tokyo Japan > News > Markets > US Dollar Index Encounters First Bearish Hit

The Shanghai Composite Index closed up 102.65 points (3%) last week, ending at 3,099.65 Friday, the highest close in over a month, but below the 100-day average. Similar to the U.S. stock market, China’s index has had its ups and downs in 2022 but has traded mostly lower. China does not have an inflation problem, but the economy has performed slower in 2022, hampered by its strict zero-policy response to COVID infections that keep popping up like a whack-a-mole game. For soybean traders, worries about China’s economy have often translated to caution in the soybean market, but there has not been any sign of slower soybean demand from China yet. Technically speaking, the Shanghai Composite Index posted a bullish turn in the weekly stochastic last week, leaving behind a possible double-bottom formation. The bullish potential in this index coincides with a report from the Wall…

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