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On March 18th, Chery Automobile (09973.HK) announced that its revenue for 2025 will reach RMB 300.287 billion, a year-on-year increase of 11.3%; net profit for the year will be RMB 19.507 billion, a year-on-year increase of 36.1%; and net profit margin will be 6.5%, compared to 5.3% in the same period last year. The Board of Directors has resolved to recommend a final cash dividend of RMB 0.86 per share (inclusive of tax) for the current year.Geely Automobile (00175.HK): Sales target for 2026 is 3.45 million vehicles.Geely Automobile (00175.HK) expects its full-year revenue in 2025 to be RMB 345.23 billion, compared with RMB 240.2 billion in the same period of the previous year.March 18th - Geely Automobile (00175.HK) announced that its sales volume for 2025 will reach 3.0246 million vehicles, a year-on-year increase of 39%; revenue will reach RMB 345.232 billion, a year-on-year increase of 25%. Profit attributable to owners of the parent company will be RMB 16.852 billion, basically flat compared to last year. The board of directors recommends a final dividend of HKD 0.50 per ordinary share, a year-on-year increase of 52%.On March 18th, the Department of Energy Conservation and Comprehensive Utilization of the Ministry of Industry and Information Technology (MIIT) convened a symposium on the comprehensive utilization of waste tires on March 17th, 2026. Representatives from relevant industry associations, research institutions, and key enterprises attended the meeting. At the meeting, participants focused on tire retreading, recycled rubber, rubber powder, and pyrolysis, introducing the current domestic and international development status of the waste tire comprehensive utilization industry, the innovative application of process technology and equipment, digital transformation, the construction of standard systems, and the promotion and application of recycled products. They analyzed and assessed the opportunities and challenges facing the industrys development during the 15th Five-Year Plan period and proposed policy recommendations to promote the high-quality development of waste tire comprehensive utilization in my country. Next, the Department of Energy Conservation and Comprehensive Utilization will conduct in-depth research on the waste tire comprehensive utilization industry, further strengthen policy guidance, improve relevant standard systems, strengthen industry regulation and management, increase the promotion and application of advanced technologies, and continuously improve the level of waste tire comprehensive utilization.

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.

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