• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Iran will hold talks with European parties in Istanbul on Friday, two European diplomatic sources and an Iranian diplomatic source said on Tuesday. Britain, France and Germany initially hesitated about the talks, fearing that such talks could open up a parallel track that would interfere with the negotiations promoted by the Trump administration to prevent Iran from developing nuclear weapons. But European diplomats said they chose to continue the talks because it was in their interest to maintain dialogue with Iran and reaffirm their vision for a new nuclear deal. Iran is also eager to hold the talks in order to keep multiple options open and assess the positions of European powers on the issue of re-imposing UN sanctions on Iran. European powers are not parties to the current Iran-US negotiations, but the three powers have been seeking to coordinate closely with Washington to decide whether and when the "snapback sanctions mechanism" should be used to put pressure on Iran over its nuclear program. According to diplomats and a document seen by Reuters, the three countries may initiate "snapback sanctions" in August if no substantive agreement is reached by then.SpaceX: Starship completed a long six-engine static fire test and is currently making final preparations for its ninth flight test.Sources: Iran and Europe will hold nuclear talks on Friday.On May 14, the Czech Presidents Office announced on the 13th that President Pavel confirmed that the countrys parliamentary House of Representatives election will be held on October 3 and 4 this year. The Czech Parliament has a bicameral system of the Senate and the House of Representatives. The House of Representatives has a total of 200 seats, and the term of office of members is 4 years. The last Czech House of Representatives election was held in October 2021, and a total of 7 political parties entered the parliament.The API crude oil production in the United States in the week ending May 9 was 398,000 barrels per day, compared with -122,000 barrels per day in the previous week.

Canadian Dollar Outlook: CAD Extends Rally After Yesterday’s BoC Decision

Cory Russell

Apr 15, 2022 10:55

USD/CAD FUNDAMENTAL BACKDROP

The USD/CAD exchange rate began lower this morning as a result of lower US Treasury rates (a lower expectation for US inflation) and a weaker dollar. The Bank of Canada's (BoC) 50 basis point rate boost yesterday spurred a CAD surge, clawing back recent losses. In the long run, though, I prefer the dollar because I don't believe the Canadian economy can keep up with the Fed's aggressive policy. As we go through the rightening cycle, the dollar should strengthen versus the loonie.


Crude oil prices are still high, but their impact on the USD/CAD has lessened since the US is now a net crude oil producer. This can be seen in the USD/CAD price movement, where the CAD has been relatively quiet in comparison to prior crude oil price increases.


We have a couple option expiries for the New York cut later today (see details below). As the cut approaches, prices on huge expiries tend to approach the strike price. USD/CAD is now slightly higher than the below strikes, suggesting a move down later in the day.


1.2550 (289M) USD/CAD, 1.2560-70 USD/CAD (923M)


USD/CAD ECONOMIC CALENDAR As we move into the Easter weekend, retail sales and consumer confidence in the United States will round off the week, while Canadian inflation will take center stage next week.

TECHNICAL ANALYSIS

USD/CAD seems to be headed for a retest of the psychological support level of 1.2500, which is part of a building bear flag. This gloomy prognosis is definitely plausible in the short term, but as I have said, USD upside is my favored strategy after Q2.

IG CLIENT SENTIMENT DATA: MIXED

Retail traders are now significantly LONG on USD/CAD, according to IGCS, with 62 percent of traders holding long bets (as of this writing).