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The main paraxylene (PX) contract rose more than 2.00% intraday, currently trading at 8,996 yuan/ton.On June 3rd, at a regular press conference held by the Taiwan Affairs Office of the State Council, we noted that Nvidia founder Jensen Huang recently stated that Taiwan needs more electricity, leading to concerns within Taiwan about the islands power supply shortage. The Democratic Progressive Party (DPP) has consistently avoided addressing the vital energy issue that is crucial to the industrys survival. What is your comment on this? Spokesperson Zhu Fenglian of the Taiwan Affairs Office stated that the DPP authorities are single-mindedly pursuing "Taiwan independence" and have neither the will nor the ability to solve the structural problems facing the islands economic and social development. Power shortages have become a Achilles heel of Taiwans economic and social development, a fact that is evident to all. The DPP authorities have highly politicized the energy issue, not addressing it directly but using it as a tool for partisan suppression and attacking opponents, revealing their self-serving nature and disregard for the interests, well-being, and future development of the Taiwanese people.On June 3rd, Pan Chunsheng, Vice President of the China Association for Public Companies, stated at the 2026 China Social Responsibility Investment Summit Forum that despite the uncertainties brought about by policy differences, the underlying logic of sustainable development remains unchanged, and fundamental issues such as climate risk, supply chain security, and social equity will only become more urgent. He advised listed companies to maintain strategic focus and not easily change their direction in the face of short-term fluctuations in the external environment or temporary policy adjustments. Regarding the significant differences in disclosure requirements faced by companies going global in different markets, he suggested that listed companies gradually build cross-standard management capabilities and make adequate preparations in advance for different markets such as the EU, Southeast Asia, and the US. Furthermore, Pan Chunsheng pointed out that listed companies are encouraged to communicate more proactively with investors, using quantifiable data and verifiable performance to demonstrate a shared understanding of sustainable development.June 3 – A press conference in Shanghai announced that the 12th China (Shanghai) International Technology Import and Export Fair, themed "Building a New Ecosystem for Technology Trade and Writing a New Chapter of Global Cooperation," will be held from June 11 to 13 at the Shanghai World Expo Exhibition & Convention Center. Preparations are essentially complete. This years fair will feature one main pavilion, four specialized technology exhibition areas, and one innovation and trade service area, covering a total exhibition area of 38,000 square meters. It will showcase innovative achievements from 22 countries and regions worldwide and 24 provinces and municipalities across China, with the number of participating companies exceeding 1,006 for the first time.On June 3, the Taiwan Affairs Office of the State Council held a regular press conference. Recently, the leaders of Japan and the Philippines issued a joint statement emphasizing the importance of peace and stability across the Taiwan Strait and announcing the launch of so-called "maritime boundary delimitation negotiations," which the DPP authorities echoed. What is your comment on this? Zhu Fenglian, spokesperson for the Taiwan Affairs Office, stated that there is only one China in the world, and Taiwan is a part of China. The proposed maritime boundary delimitation area announced by Japan and the Philippines is located east of Taiwan Island. Their so-called "boundary delimitation negotiations" seriously infringe upon Chinas maritime rights and interests, seriously violate international law and the basic norms of international relations, and are completely illegal and invalid. Compatriots on both sides of the Taiwan Strait belong to the Chinese nation and should firmly uphold the national stance, adhere to national righteousness, jointly safeguard national sovereignty and territorial integrity, and safeguard the overall interests of the Chinese nation. The DPP authorities dare to align themselves with external forces and sell out national interests; they will inevitably be condemned by compatriots on both sides of the Taiwan Strait and punished by history.

USD/CAD Faces Downward Pressure Following the BoC's Hawkish Decision

Drake Hampton

Apr 15, 2022 10:39

USD/CAD fell in response to the Bank of Canada's decision. Benchmark yields increased further as investors digested rising inflation and hoped for a peak. Gold and silver prices continue to act as a hedge against inflation in the face of mounting inflation fears.

 

Oil prices fell as supply issues remained unresolved. While global supply is tightening in anticipation of a possible Russian oil shutdown, the EIA announced last week the proposal for member states to release strategic reserves.

 

Retail sales in the United States climbed by 0.5 percent in March, and 6.9 percent year over year. Gas station revenues increased the most, as retail sales are not inflation-adjusted. This compares to a 6.4 percent decline in internet sales.

 

Initial jobless claims increased to 185,000, up 18,000 from the previous week. Despite the fact that export prices climbed faster than import prices, the US trade imbalance widened. Imports have been impacted by inflation, with prices increasing by 2.6 percent and 12.6 percent month over month.

Technical Evaluation

The USD/CAD exchange rate has remained relatively stable as investors await critical US data that would affect the dollar. The Bank of Canada's hawkish tone bolstered the Loonie and contained losses, while lower crude oil prices weakened the Loonie and limited gains.

 

Resistance is located near the 1.266 50-day moving average. Support is located near the 1.256 ten-day moving average. The short-term momentum shifted to the upside when the fast stochastic crossed above the buy signal. The medium-term momentum is bullish, since the MACD line generated a buy signal upon crossover.

 

When the MACD line (the 12-day moving average minus the 26-day moving average) passes the MACD signal line, this scenario occurs (the 9-day MA of the MACD line).

 

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