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The CIA used Israeli-made Pegasus software to conduct a deception operation in Iran to rescue a downed American pilot. This spyware, widely used by the CIA, is primarily used for hacking devices, eavesdropping on communications, and secretly collecting data.BEIJING, April 13 (Xinhua) -- Vietnams National Assembly Office announced on April 12 that, in order to stabilize domestic oil prices, it has decided to extend the suspension of fuel tax collection from the previously announced April 15 to the end of June. According to the statement from the National Assembly Office, the National Assembly has passed a resolution to continue the suspension of environmental protection tax and special consumption tax on fuel consumption. The Vietnamese government had previously announced the suspension of environmental taxes and special consumption tax on gasoline, diesel, and aviation fuel from March 27 to April 15. The Ministry of Finance stated that this would reduce national revenue by 7.2 trillion VND (approximately US$273 million) per month.Isuzu will postpone the launch of its fuel cell truck, which it is developing in cooperation with Honda, until after 2027.On April 13th, Trump stated that the world is relying on the United States for oil because of Irans actions in the Strait of Hormuz. Trump said, "Tomorrow at 10 a.m. we will implement the blockade... Other countries are also working together to ensure that Iran cannot sell oil, and it will work very well! Many ships are coming to our country to refuel and then leave with that oil, so they wont have to go through the Strait of Hormuz. This problem will eventually be solved. The whole world is relying on the United States. Thanks to the Drill, Babies campaign, our oil reserves have increased; we have more oil reserves than Russia and Saudi Arabia combined. Now, ships are coming in, refueling, and no longer need to go through the Strait of Hormuz!"Zhipu (02513.HK) rose more than 7% at one point during the session, breaking through the HK$1,000 mark and reaching a high of HK$1,005, a record high. The gains have now fallen back to 4.5%.

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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