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On March 10th, the "2026 Douyin Mini-Game Industry White Paper" was officially released at the Douyin Interactive and Game Industry Conference. Data shows that by the end of 2025, the daily active users of Douyins "Little Fireman" mini-game had exceeded 100 million, with 81.6% of its traffic coming directly from private messages and social sharing within the Douyin ecosystem. Data from the Game Publishing Committee shows that the market size of mini-games in my country reached 53.54 billion yuan in 2025, a year-on-year increase of 34.4%, and is expected to exceed 100 billion yuan in 2027. In terms of user scale, the monthly active users (MAU) of mini-games were approximately 600 million in 2025, and are expected to approach 700 million in 2026.The Japan Meteorological Agency stated that the probability of an El Niño event occurring this summer is 60%.On March 10th, Iranian Foreign Minister Araqchi stated in an interview with PBS on March 9th that he did not believe Irans new Supreme Leader would consider dialogue or renegotiating with the United States. The Iranian Foreign Minister emphasized that the slowdown or even stagnation of oil production and transportation in the Middle East, leading to insecurity throughout the region, is the responsibility of the United States and Israel, and that Iran bears no responsibility for it—this is a "war imposed on Iran," and what Iran did was merely "legitimate and justified self-defense."The Japan Meteorological Agency stated that normal weather conditions are expected to continue throughout the spring season, with a 50% probability.The Japan Meteorological Agency stated that there is a 50% probability of an El Niño event occurring in the Northern Hemisphere this spring.

USD/CAD declines to 1.3500 on firmer Oil prices, BoC concerns over US inflation, and Fed Minutes

Daniel Rogers

Apr 10, 2023 14:35

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The USD/CAD maintains losses close to 1.3500, shattering a four-day winning trend, as traders brace for key Easter Monday data/events on major bourses. However, the recent decline in the Loonie-U.S. dollar exchange rate may be due to the increase in the price of WTI petroleum oil, Canada's primary export. In contrast to the recent increase in ardent Fed forecasts, the Bank of Canada's (BoC) dovish bias poses a challenge to pair sellers.

 

After increasing for three consecutive weeks, WTI crude oil prices gain 0.61 percent intraday near $80.00. Recent increases in the price of black gold may be due to geopolitical concerns surrounding China and Taiwan. In addition to the supply cut by OPEC+ and the faltering US dollar, the energy benchmark is sustained by the supply cut by OPEC+ and the weakening US dollar.

 

However, the US Dollar Index (DXY) has fallen for three consecutive weeks and is under pressure near 102,000.

 

Fears of higher Fed rates versus inaction from the Bank of Canada (BoC) grew after the upbeat US Jobs report versus the lack of significant positives in the March Canadian jobs report.

 

As a result, the CME's FedWatch Tool indicates a 69% chance of a 0.25 basis point rate hike in May, up from 55% prior to the US employment report.

 

Canada's headline Net Change in Employment increased to 34.7K in March from 21.8K in February, compared to the market consensus of 12K, while the Unemployment Rate came in at 5% versus the analysts' estimate of 5.0%. During the specified month, the Participation Rate decreased to 65.6% from the expected and previous rate of 65.7%. In addition, the average hourly wage fell 5.2% year-over-year in March, down from 5.5% in February.

 

In contrast, the US Bureau of Labor Statistics (BLS) reported that Nonfarm Payrolls (NFP) increased by 236K in March, the lowest increase since January 2021 (considering revisions), compared to the expected 240K and the previous 330,000. Additionally, the unemployment rate fell from 3.6% to 3.5%, while the labor force participation rate rose from 62.6% to 62.6%. The annual wage inflation rate decreased from 4.6% to 4.2%, below market expectations of 4.3%.

 

Futures on US equities ended higher, but yields remain under pressure ahead of the crucial BoC monetary policy meeting, US inflation, and Fed Minutes. Given the dovish concerns from the Bank of Canada (BoC) and the likely hawkish comments in the FOMC Minutes, the USD/CAD may see additional gains, barring any unexpected developments.


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