💵 💴 💶China Sets Stimulus Goals in Fiscal Policy💴 💶

China’s National Development and Reform Commission and Ministry of Finance announced a plan aimed at supporting equipment upgrades and household consumption. To counteract stagnation in investment growth, the government will increase special bond issuances for equipment renewal projects. These supports will be provided in the form of investment and interest subsidies. Existing policies benefiting sectors like energy, transportation, and logistics will continue, but their scope will expand to include information technology, production safety, and agriculture. Equipment renewal will focus on smart, green, and high-tech equipment.

GLOBAL MARKETS

Global market trends were shaped by weakening rate cut expectations in the U.S. Rising U.S. Treasury yields, which led to declines in stock markets and a stronger dollar, have slowed today, while Japan’s government bond yields continue to rise. According to the minutes released by the Federal Reserve (Fed) yesterday, officials are concerned about inflation due to aggressive policies expected from President Donald Trump regarding tariffs and the deportation of immigrants.

Elon Musk Supports Pro-Crypto Prime Minister Candidate

Elon Musk, known for his criticism of Canadian Prime Minister Justin Trudeau, who resigned on Monday evening, has expressed support for Conservative Party leader Pierre Poilievre. Musk shared a video of Poilievre discussing inflation with factory workers. After the U.S. elections, Musk, along with Vivek Ramaswamy, is expected to lead the so-called “Government Efficiency Agency” under DOGE. Musk has also criticized the Biden administration’s “unnecessary” expenditures, claiming they fuel inflation.

Technical Overview

DXY

DXYThe DXY index broke out of a descending wedge structure on the daily chart and is maintaining its uptrend. Currently trading at 108.58, the uptrend is likely to continue as long as the 105.68 horizontal support level holds. Resistance levels to watch are 112.34 and 115.00, with a possible continuation to 120.76 if momentum remains strong.

Resistance Levels: 112.34 / 115.00 / 120.76
Support Levels: 107.34 / 105.68 / 104.38

BTC/USD

Bitcoin, after showing signs of recovery, experienced a sharp pullback yesterday, dropping to 94,300 USD. Currently, it is holding above its horizontal support. A breach of this level could lead to further declines toward 87,100 USD.

Resistance Levels: 108,985 / 118,500 / 123,550
Support Levels: 92,000 / 88,362 / 83,365

ETH/USD

Ethereum fell to 3,330 USD after losing the 3,539 USD support level, re-entering a bearish trend. For recovery, it needs to close above 3,539 USD, which could signal a market rebound. A critical support level to watch is 3,110 USD.

Resistance Levels: 3,539 / 4,086 / 4,782
Support Levels: 3,110 / 2,808 / 2,134

NASDAQ

The Nasdaq index continues its uptrend within a rising channel on the weekly charts. A short-term descending channel may lead to further gains if resistance is broken, potentially pushing the index toward 22,000. Key support to monitor is at 20,690.

Resistance Levels: 23,117 / 24,380 / 26,200
Support Levels: 20,694 / 18,788 / 17,291

BRENT

Brent oil shows medium-term recovery and has regained its previous channel structure, maintaining its uptrend. After surpassing the 76.98 resistance, sustained momentum above this level could push prices to the 80.00–82.00 range. The critical support level is at 72.37.

Resistance Levels: 80.00 / 85.84 / 95.53
Support Levels: 76.15 / 70.17 / 69.00

EURUSD

The Euro formed a double top at the 1.11 level and entered a downtrend. After breaking below the 1.10 support, it has retreated to the lower band of its channel at 1.0367. Buyers may step in at this critical support, but a break lower could see further declines to 1.018.

Resistance Levels: 1.0575 / 1.1043 / 1.1213
Support Levels: 1.0180 / 0.9936 / 0.9542

XAUUSD

Gold gained momentum after bouncing off the 2,610 support zone, resuming its uptrend. The key resistance level to watch is 2,662. A strong close above this level could extend the rally further.

Resistance Levels: 2,662 / 2,757 / 2,790
Support Levels: 2,589 / 2,550 / 2,484

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