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The most active Japanese rubber futures contract rose 2.00% on the day, currently trading at 356.40 yen per kilogram.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that my countrys goods trade has been continuously optimized and upgraded. Over the past five years, the import and export of high-tech products has grown at an average annual rate of 7.9%, with the year-on-year growth rate further accelerating to 11.4% in 2025, contributing nearly 60% to the overall foreign trade growth. The export scale of the "new three" products—electric vehicles, photovoltaic products, and lithium batteries—is expected to reach nearly 1.3 trillion yuan in 2025, a 3.5-fold increase compared to 2020. New business formats and models are flourishing. According to preliminary statistics from customs, my countrys cross-border e-commerce imports and exports are expected to reach 2.75 trillion yuan in 2025, a 69.7% increase compared to 2020.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that by 2025, my country will have trade relations with 249 countries and regions worldwide. Among them, 14 countries and regions will have trade exceeding one trillion, 62 exceeding one hundred billion, and 137 exceeding ten billion yuan, representing increases of 2, 6, and 10 respectively compared to 2024. Across the five continents, my countrys imports and exports with at least 60% of the countries and regions on each continent will see growth. Looking at individual economies, by 2025, my countrys top ten trading partners will account for 47.7% of my countrys total foreign trade, a decrease of two percentage points compared to 2024, indicating a slight decrease in concentration and a more balanced distribution.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that my countrys intermediate goods trade achieved rapid growth in 2025, becoming a major driver of exports and providing strong support for global industrial cooperation. my countrys export markets have become more diversified, with exports to countries participating in the Belt and Road Initiative increasing by 11.2%, contributing 5.4 percentage points to overall export growth. ASEAN has been Chinas largest export market for three consecutive years. Export growth to emerging markets such as Latin America, the Middle East, Central Asia, and Africa all outpaced the overall growth rate. my country continues to provide the world with high-quality, affordable, stable, and reliable products, becoming a "key link" in the global industrial and supply chains. Overall, my countrys exports are characterized by more robust innovation, a stronger foundation for green development, and a brighter commitment to win-win cooperation. "Good Chinese products" are widely popular globally, playing a vital role in ensuring the stability of global production and supply chains, injecting certainty into global economic and trade development, and bringing new opportunities.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that exports of high-tech products are projected to increase by 13.2% year-on-year by 2025, contributing 2.4 percentage points to my countrys overall export growth. Specifically, exports of specialized equipment, high-end machine tools, and industrial robots increased by 20.6%, 21.5%, and 48.7%, respectively. Notably, exports of industrial robots exceeded imports last year, making my country a net exporter of industrial robots.

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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