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On September 13, 2026, the China-World Bank Group Global Ecosystems and Transformation Centre hosted a high-level seminar on the "Two Mountains" theory in Beijing, themed "From Vision to Action: Restoring Nature for Prosperity and Development." Liao Min, Vice Minister of Finance, attended the opening ceremony and delivered a speech. Liao Min stated that China calls on the World Bank and other multilateral development banks to provide more funding, technology, and knowledge to developing countries to strengthen ecological protection, and expects the Global Centre to play its role as a knowledge-sharing platform and provide more global public goods.On September 13, local time, President Xi Jinping attended the second phase of the 18th BRICS Summit in New Delhi and delivered an important speech.September 13th - According to an Associated Press report on September 12th, Terry Tillis, commander of the U.S. Armys training force in Germany, recently told reporters that the U.S. Army has sent soldiers to Ukraine to learn drone warfare techniques. The Associated Press stated that Ukraine is using its drone warfare technology to counter Russia, and as the U.S. military seeks to integrate drone capabilities and tactics into its own forces, relations between the U.S. and Ukrainian militaries are growing increasingly close. The media outlet entered a U.S. military training ground in Germany to observe troops conducting exercises up close, gaining insight into how the U.S. is cooperating with and learning from Ukraine.According to Irans Tasnim News Agency: The foreign ministers of Iran and Egypt met in New Delhi.September 13th - The 19th Pujiang Innovation Forum 2026 was held in Shanghai from September 11th to 14th. Liu Dongmei, Party Secretary of the China Academy of Science and Technology for Development Strategy, released the "China Regional Science and Technology Innovation Evaluation Report 2026" during the forum. The report shows that my countrys regional science and technology innovation level continues to improve, with Shanghai maintaining its leading position nationwide in comprehensive science and technology innovation, and Jiangsu, Zhejiang, and Anhui all ranking among the top ten. The Yangtze River Delta region, in terms of R&D resources, fiscal investment in science and technology, and innovation output, accounts for more than 30% of the national total in key indicators, making it one of my countrys most dynamic regional innovation hubs.

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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