EUR/USD 1.16849
-0.115%
Gold 4733.31
-0.675%
Oil 93.188
1.363%
USD/JPY 159.291
0.199%
GBP/USD 1.34171
-0.132%
GBP/JPY 213.727
0.084%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
British Defence Secretary Healy: The United States remains steadfastly committed to NATO.On April 10th, a spokesperson for the China Securities Regulatory Commission (CSRC) answered reporters questions regarding the "Opinions on Deepening the Reform of the ChiNext Market to Better Serve the Development of New Productive Forces." The spokesperson mentioned that, regarding refinancing, to meet the needs of growth-oriented innovative and entrepreneurial enterprises that have long R&D cycles and high requirements for the flexibility and timeliness of fundraising, the CSRC will promote the implementation of the shelf registration system for refinancing on the ChiNext market, allowing for "one-time registration, multiple issuances." At the same time, the CSRC will improve the simplified refinancing procedure system, simplify company decision-making procedures, and improve refinancing efficiency. Regarding mergers and acquisitions (M&A), the CSRC will fully leverage the positive role of M&A in promoting industrial integration and transformation and upgrading, and continue to promote the implementation of the "Six Measures for M&A" on the ChiNext market.On April 10th, a spokesperson for the China Securities Regulatory Commission (CSRC) answered reporters questions regarding the "Opinions on Deepening the Reform of the ChiNext Market to Better Serve the Development of New Productive Forces." The spokesperson mentioned optimizing the trading system. This includes introducing a market maker system to promote the diversification of participants and trading strategies in the ChiNext market, reduce price volatility, and enhance market resilience. Negotiated block trades will be adjusted to real-time confirmation, improving the efficiency of investors securities and capital utilization, enhancing transaction certainty, and increasing the willingness of medium- and long-term funds to participate. An after-hours fixed-price trading mechanism for ChiNext-related ETFs will be introduced to better meet the diversified trading needs of investors and help reduce the impact of large transactions on the secondary market.S&P: War will indirectly impact Asian insurance companies through market volatility.The Hang Seng Index closed up 141.14 points, or 0.55%, at 25,893.54 on Friday, April 10; the Hang Seng Tech Index closed up 38.59 points, or 0.8%, at 4,860.26; the H-share Index closed up 43.21 points, or 0.5%, at 8,655.04; and the Red Chip Index closed up 31.31 points, or 0.74%, at 4,287.51.

Near 1.3600, USD/CAD Meets Difficult Resistance Amid a Weak USD Index and Rising Crude Prices

Daniel Rogers

Mar 29, 2023 14:32

USD:CAD.png 

 

Near 1.3600, the USD/CAD pair encountered resistance during the Asian session. As the US Dollar Index (DXY) appears vulnerable to further losses below 102.40, the Canadian dollar appears to have a sturdy downside bias. The USD Index has found support near 102.40, but a retracement is likely as risk appetite improves.

 

The USD Index is under intense pressure as a result of the decline in U.S. banking concerns. As reported by Reuters, US House Speaker Kevin McCarthy stated in an interview with CNBC on Tuesday that "at this time" there is no need for universal insurance on all bank deposits, reviving concerns of a banking crisis in the United States.

 

Tuesday's S&P500 futures remained predominantly constrained in response to House Speaker Kevin McCarthy's remarks. The Federal Reserve (Fed) is expected to maintain a consistent tone when announcing its interest rate decision at its May monetary policy meeting, despite the optimistic market sentiment.

 

In the interim, demand for U.S. government bonds remained low due to investors' expectation that the nation will emerge from its banking crisis sooner. This led to a rise in 10-year US Treasury yields to 3.57 percent.

 

According to Bloomberg, the Canadian Dollar remained volatile on Tuesday after Finance Minister Chrystia Freeland's announcement that dividends received by financial institutions from holding domestic equities will be considered business income. This will generate billions in tax revenue from banks and insurance firms that receive dividends from Canadian corporations.

 

Due to a weakening US Dollar and expectations of additional sanctions against Russia, the price of oil has risen to close to $74.00 on the energy front. The US Energy Information Administration (EIA) oil inventory data will be attentively monitored for additional guidance. As anticipated, the US EIA will report an increase of 0.187 million barrels in oil stocks for the week ending March 24.

 

Notably, Canada is the leading oil exporter to the United States, and rising crude prices would strengthen the Canadian Dollar further.

Suggestion