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Google (GOOG.O) and Microsoft (MSFT.O) reported record numbers of discovered software vulnerabilities. The U.S. estimates the number of known cyber vulnerabilities is expected to significantly exceed 205.July 28th - According to the Financial Times, Nvidia (NVDA.O) has agreed to invest $5 billion in Safe Superintelligence, an AI startup led by OpenAI co-founder Ilya Sutskower, further strengthening the chipmakers partnership with one of Silicon Valleys most watched AI companies. Nvidia and SSI announced the deal on Monday as part of a "long-term partnership," with the startup utilizing Nvidias latest Vera Rubin hardware. Sources familiar with the matter said Nvidia has agreed to invest approximately $5 billion. Such large commitments typically come with startups reaching certain key milestones. Both companies declined to comment on the financial terms of the deal, only stating that the investment is "substantial." The funding will help SSI build the necessary computing power to leverage a research breakthrough it claims. The company stated that the investment will enable SSI to increase its available computing power tenfold over the next 12 months.U.S. Representative Nancy Mays has again called for a one-year halt to the construction of a new data center in South Carolina.Fitch Ratings: The correction in the artificial intelligence market is becoming a major credit risk.July 28 - According to Reuters, data from the U.S. Department of Energy shows that crude oil inventories in the U.S. Strategic Petroleum Reserve fell by approximately 3.7 million barrels last week, dropping to 307.7 million barrels, the lowest level since March 1983. This inventory reduction is part of an agreement reached by the United States to release 172 million barrels of crude oil from the reserve.

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

Alina Haynes

Apr 04, 2023 13:53

USD:CAD.png 

 

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.


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