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Ukrainian President Zelensky: Territorial issues can only be decided by Ukraine. Ukraines security must be guaranteed in the long term, and both Europe and the United States should provide security guarantees.Ukrainian President Zelensky: We need real peace, not a ceasefire agreement, and stressed to Trump that pressure on Russia should be increased.On August 16, Sergei Leshchenko, Chief Advisor to the Ukrainian Presidential Office, issued a statement on social media regarding ways and means to end the Russia-Ukraine conflict. Leshchenko stated that Ukraine firmly believes a ceasefire must be achieved before further negotiations can proceed. Leshchenko clarified that Ukraines position is clear: ceasefire first, then other discussions. He believes that if negotiations begin before a ceasefire, Ukraine will face significant risk of blackmail. Only a truly effective ceasefire can create the necessary space for diplomatic activity.British Prime Minister Starmer: Trumps efforts have brought us closer than ever to ending Russias war in Ukraine, and the next step must be further talks with President Zelensky.On August 16th, the President of the European Commission issued a statement regarding the earlier US-Russia meeting, expressing her gratitude to US President Trump for providing an update on the Alaska meeting. Ursula von der Leyen stated that the EU is working closely with Ukraine and the US to achieve a just and lasting peace. Von der Leyen reiterated that strong security guarantees are essential to protecting Ukraine and Europes vital security interests. US President Trump and Russian President Vladimir Putin met in Anchorage, Alaska, on August 15th. The meeting lasted approximately three hours and was described by both sides as "constructive" and "productive," but no agreement was reached on issues such as a ceasefire between Russia and Ukraine.

The USDCAD attempts to build a position above 1.3350 as oil bids approach $85.00

Alina Haynes

Nov 17, 2022 11:51

 截屏2022-11-17 上午10.21.43.png

 

In Asia, the USDCAD pair's volatility has decreased to a range of 1.3314-1.3345 following a vertical rebound from a key support level near 1.3230. As a result of the severe pressure on oil prices, the asset is lingering near its weekly peak and seeking to add to its gains. Contrary to USDCAD bullish wagers, market optimism is regaining traction.

 

The S&P500 futures are recovering from Wednesday's losses. As Target Corporation (NYSE:TGT) issued a gloomy forecast for consumer spending, the S&P 500 index dropped. Following a minor recovery from 106.20, the performance of the US dollar index (DXY) is underwhelming. As clouds of uncertainty have cleared, the Russia-Poland-led upswing in the DXY could reach its conclusion.

 

In the interim, 10-year US Treasury rates have rebounded somewhat to roughly 3.71 percent, having dipping below 3.7% earlier. As the possibility of a fifth straight rate hike by the Federal Reserve (Fed) of 75 basis points (bps) is extremely low, the downturn appears less certain. According to CME FedWatch, there is a 17% chance of a 75 basis point rate hike.

 

The words of Esther George, president of the Federal Reserve Bank of Kansas City, have strengthened the case for a recession to temper inflationary pressures. A Fed official stated in an interview with the Wall Street Journal that it may be impossible to cut inflation without sparking a recession. In addition, he proposed for a decrease in the rate of rate increases commencing in CY2022.

 

In terms of the Canadian dollar, lower oil prices have led to currency volatility. As the number of sick patients continues to soar, China's relaxing of Covid-19 restrictions has failed to improve oil prices. In addition, clarity on the Russia-Poland disagreement has reduced the probability that the trading bloc will impose swift sanctions on Russia.

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