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JPMorgan Chase raised its price target for Alphabet, Googles parent company, from $340 to $385.On December 12th, R&F Properties (02777.HK) issued an announcement on the Hong Kong Stock Exchange, stating that the Groups total sales revenue for November 2025 was approximately RMB 1 billion, with a sales area of approximately 112,500 square meters. Cumulative sales revenue up to the end of November 2025 reached approximately RMB 12.7 billion, with a sales area of approximately 1,261,600 square meters.December 12th - Investec Chief Economist Philip Shaw stated in a report that the UK economy is likely to contract in the fourth quarter unless there is a significant boost in economic growth by the end of the year. "If economic momentum does not substantially pick up by the end of the year, the UK economy will record its first quarterly contraction in two years," Shaw said.December 12th - Japans auto workers union will seek a slightly higher wage increase than last year in the upcoming round of wage negotiations, and the Bank of Japan is closely monitoring wage trends in this industry impacted by US tariffs. The Japan Auto Workers Union (JAW) released a draft negotiation plan on Friday, to be reached in March next year, proposing a minimum monthly basic wage increase target of 12,000 yen. The previous year, the union did not set 12,000 yen as a minimum target, but rather used it as a target to strive for, ultimately achieving a 9,520 yen increase, equivalent to a 3.58% rise. If JAW achieves its current target, it will exceed this years actual results, indicating that even with the industry facing pressure from higher US tariffs, workers intend to continue pressuring employers. This further strengthens the Bank of Japans incentive to raise interest rates. Automakers typically announce their wage plans in February, setting the tone for broader spring wage negotiations.Data shows that after Ukraine submitted a revised proposal to the United States to end the conflict with Russia, Ukrainian international bonds rose by 0.9 to 1.8 cents, with the purchase price of bonds maturing in 2029 reaching 73 cents, the highest level since February.

USD/CAD Approaches Exhaustion at 1.2830 as Oil Rebounds; BOC's Macklem Comes Under Fire

Alina Haynes

Apr 27, 2022 09:59

The USD/CAD pair is showing symptoms of weariness following a mammoth rally from last week's low of 1.2458. The asset has been climbing upward as safe-haven assets have been bolstered by negative market sentiment. While exhaustion signals at monthly highs of 1.2830 may be associated with a more robust recovery in oil prices.

 

China's pledge to strengthen its economy through conservative monetary policy has given oil prices a boost. Increased liquidity in the economy to boost demand will restore normalcy to oil requirements. The price of oil has recaptured the $100.00 level. The black gold was underperforming as the Covid-19 pandemic spread from Shanghai to Beijing, reigniting fears of a slide in China's aggregate demand. Additionally, the Beijing mass testing was used to call for severe lockdown measures.

 

It's worth mentioning that China is the world's largest oil importer, and any concerns about the dragon economy's oil demand might have a significant impact on oil prices. Additionally, Canada is the largest oil exporter to the United States, and rising oil prices result in increased capital inflows into the loonie area.

 

Investors' attention will now turn to Tuesday's speech by Bank of Canada (BOC) Governor Tiff Macklem. Additionally, the US Gross Domestic Product (GDP) number for the third quarter will be released on the same day, and is predicted to decline to 7.2 percent.

USD/CAD

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