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According to a CNBC reporter, the head of artificial intelligence at the U.S. Department of Defense confirmed that the department is expanding its use of Googles Gemini AI model.According to Al Jazeera, the White House stated that the United States will not "rush into a bad deal with Iran" in order to end the war and open the Strait of Hormuz.April 29th - According to a CNBC reporter, sources familiar with the matter revealed that policy leaders from companies including Microsoft, Red Hat, Amazon, Google, Crowdstrike, Palo Alto, Goldman Sachs, and JPMorgan Chase attended todays White House meeting regarding the artificial intelligence "Mythos." It is understood that no unified solution has been reached at the meeting, but discussions are ongoing.① Iran 1. Iran says it should confiscate the property of its adversaries in accordance with the law. 2. US media: Iran has begun using abandoned oil tanks to store oil. 3. Iranian police found Starlink devices and other spy equipment in a residence. 4. Iranian hacker group claims to have released information on nearly 2,400 US soldiers stationed in the Middle East. 5. Kpler: Irans unused oil storage space can store up to 22 days worth of supplies. 6. Iranian Army spokesman: The war is not over and the army is on high alert. ② United States 1. US Secretary of State says Iran still retains half of its pre-war missile stockpile. 2. US officials: Trump is dissatisfied with Irans new proposal; the nuclear issue must be resolved first. 3. Vance questions the Pentagons claims, fearing that US missile stockpiles may be rapidly depleted. 4. US says it is aware that Israeli military operations in Lebanon during the ceasefire do not support Israels long-term establishment of a "buffer zone." 5. US Secretary of State Rubio: There is no evidence that Irans new Supreme Leader Mojtaba Khamenei is dead. 6. Data from the American Automobile Association shows that the average price of gasoline in the United States has risen to $4.18 per gallon, the highest level since April 2022. 7. The United States announced sanctions against 35 Iranian-related entities and individuals. 8. US intelligence agencies are assessing how Iran will respond to Trumps unilateral declaration of victory. 9. The US military claims it has ordered 39 ships to turn back during its blockade of Iranian ports. ③ Israel 1. According to Al Jazeera: Israeli forces bombed the town of Zautar in southern Lebanon. 2. Israeli intelligence agencies claim to have infiltrated "core secrets" in Iran and Lebanon. 3. According to Israels Channel 14: Israeli Defense Forces officers were informed at a classified briefing that Iran is successfully restoring some capabilities of its ballistic missile system. ⑤ Strait of Hormuz 1. Trump: Iran wants the United States to open the Strait of Hormuz as soon as possible. 2. Iranian Revolutionary Guard: Absolute control of the Strait of Hormuz has been achieved. 3. US Energy Secretary: The Strait of Hormuz can be opened without clearing all mines. 4. The first liquefied natural gas (LNG) carrier to pass through the Strait of Hormuz since the outbreak of the conflict between the US, Israel, and Iran. 5. According to Irans Fars News Agency, citing satellite monitoring data, 52 ships crossed the US blockade in the past 72 hours, including 31 oil tankers and 21 cargo ships. 6. Iran reiterated its right to take measures to maintain security in the Strait of Hormuz. 6. Ceasefire Negotiations 1. Sources: Iran is expected to submit a revised peace proposal soon. 7. Other Developments 1. Emirates Airlines is gradually resuming some Middle East routes. 2. Saudi Aramco has suspended LNG deliveries for May.Seagate shares rose 17% in after-hours trading after the earnings report was released, which also boosted Western Digital (WDC.O) by 10%, SanDisk (SNDK.O) by 4%, and Micron Technology (MU.O) by 2.7%.

USD/CAD Bears In Control And Aiming At Support Zone Lows

Alina Haynes

Apr 04, 2023 13:53

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The USD/CAD exchange rate is unchanged on the day after a succession of negative impulses drove the price into new territory to the downside and deeper into a support region as a result of the oil price rally. The USD/CAD exchange rate was 1.3431 at the time of writing.

 

Monday's 6.3% rise in West Texas Intermediate WTI crude oil to an intraday high of $81.51 strengthened the CAD. The oil price surged after the OPEC+ cartel surprised the market with a production cut of 1.1 million barrels per day to support prices, with the cartel announcing that it will reduce output prior to Monday's ministerial meeting.

 

Analysts at TD Securities observed that the Bank of Canada's Business/Consumer Surveys painted a more dovish picture ahead of the April BoC meeting, with a marked improvement in capacity pressures and consumer inflation expectations.

 

Analysts noted that firm-level inflation expectations continue to be elevated and that consumer growth and income expectations have also increased since the fourth quarter.

 

''The Bank of Canada should be pleased with these results, which indicate a decline in capacity pressures and a moderation in inflationary pressures. However, inflation expectations remain a formidable impediment to near-term relief. If growth does not decelerate substantially in the second quarter, it may be difficult for the Bank of Canada to keep rates at 4.50 percent. Analysts believe that the report is optimistic for CAD.