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April 13 - The Ministry of Commerce will hold a press conference at 3:00 p.m. on Thursday, April 16, 2026, where a spokesperson will introduce the recent key work in the commercial field and answer questions from reporters.Chinas new yuan loans so far this year reached 8.6 trillion yuan in March, exceeding the expected 9.06 trillion yuan and the previous months figure of 5.61 trillion yuan.April 13th - At the end of March, the balance of domestic and foreign currency deposits reached 350.23 trillion yuan, a year-on-year increase of 8.7%. The balance of RMB deposits at the end of March was 342.41 trillion yuan, a year-on-year increase of 8.6%. RMB deposits increased by 13.73 trillion yuan in the first quarter. Among them, household deposits increased by 7.68 trillion yuan, non-financial enterprise deposits increased by 2.68 trillion yuan, fiscal deposits increased by 460.6 billion yuan, and deposits of non-bank financial institutions increased by 2.03 trillion yuan. At the end of March, the balance of foreign currency deposits reached 1.13 trillion US dollars, a year-on-year increase of 17.8%. Foreign currency deposits increased by 70.3 billion US dollars in the first quarter.Chinas total social financing in March increased by 14.83 trillion yuan so far this year, compared with an expected 15.1745 trillion yuan and a previous value of 9.6 trillion yuan.April 13th - At the end of March, the outstanding balance of domestic and foreign currency loans was 284.51 trillion yuan, a year-on-year increase of 5.7%. The outstanding balance of RMB loans at the end of March was 280.51 trillion yuan, a year-on-year increase of 5.7%. RMB loans increased by 8.6 trillion yuan in the first quarter. By sector, household loans increased by 296.7 billion yuan, of which short-term loans decreased by 164 billion yuan and medium- and long-term loans increased by 460.7 billion yuan; loans to enterprises and institutions increased by 8.6 trillion yuan, of which short-term loans increased by 4.13 trillion yuan, medium- and long-term loans increased by 5.42 trillion yuan, and bill financing decreased by 1.1 trillion yuan; loans to non-bank financial institutions decreased by 368 billion yuan.

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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