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According to the Ukrainian state news agency: The wreckage of the downed drone fell in a residential area of Odessa, and the administrative building in the area was damaged.[Didi Liu Qing promoted to permanent partner] On the afternoon of May 19, Didi Cheng Wei and Liu Qing issued an internal letter to all employees. The letter mentioned that Cheng Wei decided to promote Liu Qing to the companys permanent partner, Liu Qing will no longer serve as the companys director and president, and the company will no longer have a president position in the future. Liu Qings department and responsibilities remain unchanged. She will continue to serve as the companys chief talent officer, focusing on the companys talent, organizational construction and social responsibility work, and continue to report to Chairman and CEO Cheng Wei.According to the Kiev Independent: The Ukrainian Air Force said that all 37 Russian attack drones that flew towards Ukraine at night were shot down.[Lebanese Hezbollah claimed to have attacked Israeli positions many times, Israel claimed to have launched air strikes to counterattack] Lebanese Hezbollah released a war report on May 18, saying that it had launched 12 attacks on Israeli positions, including artillery attacks on military bases and military equipment in northern Israel. Lebanese Hezbollah also claimed to have launched rockets and drones into northern Israel. On the same day, the Israel Defense Forces claimed that the Israeli army had launched air strikes on several Lebanese Hezbollah military buildings in southern Lebanon and shelled southern Lebanon.Ukrainian Navy: Ukrainian forces destroyed a minesweeper of the Russian Black Sea Fleet.

As investors anticipate BOC and US Inflation, USD/CAD falls toward 1.2900

Jul 11, 2022 11:32

 截屏2022-07-11 上午9.40.24.png

 

The USD/CAD pair is trading below the important support level of 1.2960 as investors support the Canadian dollar against the U.S. dollar on the strength of positive Canadian unemployment statistics. On a larger scale, the pair has depreciated progressively after retesting the key resistance level of 1.3083 on Wednesday.

 

The unemployment rate in Canada came in at 4.9%, below both estimates and the previous announcement of 5.1%. This has encouraged the Bank of Canada (BOC) to raise its interest rates on Wednesday by a reasonable amount. According to market consensus, the BOC may issue a 75-basis-point rate rise (bps). The occurrence of the same will increase the official interest rate to 2.25 percent.

 

Tiff Macklem, the governor of the Bank of Canada, is obligated to announce a significant interest rate increase due to the escalating inflationary pressures in the Canadian economy. May's inflation rate in Canada was 7.7 percent, a significant increase from the 6.8 percent figure reported in April.

 

On the dollar front, the US dollar index (DXY) has seen a little recovery at the opening. The DXY will stay on edge until Wednesday, when the US Consumer Price Index (CPI) will be released. The preliminary estimate for US inflation is 8.7%, which is 10 basis points (bps) higher than the previous estimate of 8.6%. A higher inflation reading will increase the likelihood that the Federal Reserve (Fed) would adopt an extremely hawkish posture at its monetary policy meeting in July.

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