EUR/USD 1.16612
-0.017%
Gold 4641.91
-0.210%
Oil 83.922
-0.744%
USD/JPY 159.365
0.171%
GBP/USD 1.36412
0.080%
GBP/JPY 217.391
0.256%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 25th, Alibaba Cloud announced that its Cloud Sandbox Snapshot feature will officially launch commercial billing starting at 00:00 Beijing time on September 7th, 2026. Snapshot supports full-state snapshots (including memory and disk) of running sandboxes, enabling second-level recovery of the sandbox or cloning of multiple new sandboxes based on the snapshot. It is suitable for scenarios such as resuming interrupted Agent tasks running for extended periods, second-level cold starts for environment warm-up, and parallel cloning exploration.Siemens Energy shares rose about 2% after reports that the company had hired Goldman Sachs to pursue a potential sale of its steam turbine stake.August 25th - my country is the worlds largest producer and exporter of audio products, with over 80% of the worlds audio equipment originating from China. Wang Tianxing, Deputy Chief of the Product Supervision Section of Haicang Customs, under Xiamen Customs, stated, "From January to July this year, Fujian Province exported 20.47 million speaker and loudspeaker-related products, a year-on-year increase of 16.8%. Among them, Xiamen City exported 17.39 million speaker and loudspeaker-related products, a year-on-year increase of 30.5%." With the peak export season approaching, Chinese audio companies are seeking new growth points in the global market. Emerging markets such as South America, the Middle East, and Southeast Asia are becoming important drivers of exports. Data from Qichacha shows that as of August 25th, there are 1.9737 million existing audio-related companies in China. The number of registered audio-related companies has shown a significant upward trend over the past decade, with the total number of registrations expected to exceed 400,000 in 2025, a year-on-year increase of 22.36% to 435,300, setting a new high for registrations in the past ten years. As of now, 246,600 companies have been registered this year.On August 25th, according to the local governor, a fire broke out at the Afipsky oil refinery in southern Russia after a drone attack overnight. The governor of Krasnodar Krai stated that local emergency services are handling the fire at the facility, located near the Ukrainian border. Ukraines actions against Russian refineries this summer have caused Russias daily oil processing volume to fall to multi-year lows and exacerbated fuel supply pressures. Several regions are currently facing fuel shortages and rationing measures. To support the domestic market, Russia has implemented a temporary ban on the export of most diesel, gasoline, and aviation fuel. The Afipsky refinery, owned by the privately held ForteInvest, has a crude oil processing capacity of approximately 180,000 barrels per day.Frances INSEE consumer confidence index for August was 86, below the expected 87 and the previous reading of 86.

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.


Suggestion