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U.S. Central Command spokesman Captain Tim Hawkins said the U.S. military conducted a self-defense strike in southern Iran on the 25th, “aimed at protecting U.S. forces from the threat posed by Iranian forces.” The spokesman said the targets included missile launch sites and Iranian vessels attempting to lay mines. “U.S. Central Command continues to defend U.S. forces while exercising restraint during the current ceasefire.”U.S. State Department: U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov exchanged views on the Russia-Ukraine conflict, bilateral relations, and the situation in Iran.On May 26, Chiles state-owned copper company, Copper, stated that the earthquake in the Antofagasta region had caused disruptions, with some mining operations under inspection and some activities suspended due to low visibility in open-pit mines and power outages in certain areas. Previously, according to the National Seismological Center of the University of Chile, a 6.9-magnitude earthquake struck the Antofagasta region in northern Chile on May 25. The Chilean Navys Hydrographic and Oceanographic Services tsunami warning department stated that the earthquake would not trigger a tsunami.May 26 - A 6.9-magnitude earthquake struck the Antofagasta Region in northern Chile on May 25, according to the National Seismological Center of the University of Chile. No casualties or damage have been reported so far. The earthquake occurred at 5:52 p.m. local time on May 25 (5:52 a.m. Beijing time on May 26), with its epicenter located 20 kilometers northeast of Calama, Antofagasta Region, at a depth of 114 kilometers. The Chilean Navys Hydrographic and Oceanographic Service tsunami warning department stated that the earthquake would not trigger a tsunami. Chile is located in the Pacific Ring of Fire, a region prone to earthquakes.On May 26th, it was reported that Meituan and SF Express have opened over 1,400 low-altitude air routes, achieving routine operation of drone logistics and gradually becoming profitable. Meanwhile, large-payload, long-range cargo drones independently developed by central state-owned enterprises, such as the Changying-8 and HH-200, have completed their maiden flights, and a preliminary "trunk-branch-terminal" low-altitude logistics network led by drones is emerging. When will large-scale commercialization of low-altitude logistics be realized? At the recent 2026 World Drone Conference, attendees believed that as the fastest-developing scenario in the low-altitude economy, low-altitude logistics is transitioning from routine operation to commercial profitability, and is expected to experience explosive growth in the next two to three years.

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

Daniel Rogers

Mar 29, 2023 14:32

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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.