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May 18th - According to the JD.com 6.18 launch event, JD.coms auction channel will hold a series of auctions during this years 6.18 period, including the worlds first auction of a lifelike humanoid robot.Bank of England Monetary Policy Committee member Green: Global central banks cannot assume the impact of the war with Iran is temporary.On May 18th, the national carbon market composite price was as follows: opening price 84.40 yuan/ton, highest price 84.40 yuan/ton, lowest price 82.10 yuan/ton, closing price 84.08 yuan/ton, a decrease of 0.98% compared to the previous day. The trading volume of listed agreement transactions today was 56,510 tons, with a turnover of 4,751,464.00 yuan; the trading volume of bulk agreement transactions was 100,000 tons, with a turnover of 8,350,000.00 yuan; there were no one-way auctions today. The total trading volume of national carbon emission allowances today was 156,510 tons, with a total turnover of 13,101,464.00 yuan. From January 1st to May 18th, 2026, the national carbon market carbon emission allowance trading volume was 33,314,913 tons, with a turnover of 251,187,6453.21 yuan. As of May 18, 2026, the cumulative trading volume of carbon emission allowances in the national carbon market was 898,181,433 tons, with a cumulative trading value of 6,017,449,468.78 yuan.On May 18th, it was learned from the National Data Administration and the Guangdong Provincial Government Service and Data Management Bureau that the Guangdong-Hong Kong-Macao Greater Bay Area Data Special Zone Innovation Cooperation Center was established today, marking a significant step forward for the Greater Bay Area in exploring new solutions for cross-border data flows. As a key platform for the national data infrastructure pilot program, the newly established center will focus on addressing the challenges of cross-border data circulation. Its primary responsibilities include providing basic data support services to government departments within the Greater Bay Area and offering professional cross-border data circulation services to enterprises. Moving forward, the center will focus on exploring new solutions for data circulation across six key application scenarios: cross-border manufacturing, cross-border healthcare, cross-border scientific research, cross-border education, cross-border e-commerce, and data processing.Bank of England Monetary Policy Committee member Green: We should not ignore negative supply shocks.

As investors wait for US/Canada employment data, the USD/CAD trading range is limited to 40 pips

Daniel Rogers

Apr 06, 2023 13:36

 USD:CAD.png

 

The USD/CAD pair retraced below 1.3450 in the early Asian session as the US Dollar Index (DXY) lost upside momentum after reaching the key resistance level of 102.00. As investors anticipate the release of the United States/Canada Employment data, the Canadian dollar is expected to deliver a dazzling performance.

 

As a consequence of a decline in Job Openings and sluggish additions of new positions, as measured by Automatic Data Processing, firms have slackened recruitment efforts, thereby alleviating the tight US labor market. (ADP). This has led to expectations that the Federal Reserve (Fed) will keep interest rates unchanged at its May meeting.

 

In the interim, S&P500 futures have resumed their downward trend, indicating a cautious market sentiment.

 

Employment data will influence the Canadian Dollar. The consensus estimate for Net Change in Employment is 12K, which is a decrease from the previous release of 21.8K. The estimated unemployment rate is 5.1%, up from 5.0% previously.

 

The USD/CAD exchange rate is exhibiting an Inverted Flag pattern on an hourly time frame. The Inverted Flag is a trend-following pattern that consists of a protracted consolidation followed by a decline. Participants prefer to enter an auction after a bearish bias has been established, and current vendors increase their position size during the consolidation phase of a chart pattern.

 

The Canadian dollar was unable to maintain a position above the 50-period Exponential Moving Average (EMA) at 1.3458, indicating that further declines are imminent.

 

Meanwhile, the Relative Strength Index (RSI) (14) has an upper limit of 60.00. A violation of the unfavorable 20.00-40.00 range will trigger downward momentum.

 

A break below the low of April 04, 1.3406, would expose the asset to a fresh six-week low around 1.3350, the low of February 6 followed by round-number support at 1.3300.

 

In an alternative scenario, a move above the psychological resistance of 1.3500 would lend momentum to US Dollar supporters, propelling the asset toward the 31- and 29-March highs of 1.3559 and 1.3619, respectively.


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