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On April 10th, during the Vienna International Energy and Climate Forum, a global cooperation initiative focusing on capacity building for energy transition was officially launched. This initiative calls for the establishment of cooperative mechanisms and enhanced knowledge sharing to provide systemic support for the global energy transition. The initiative includes six key measures: strengthening global capacity-building cooperation mechanisms; jointly establishing a Global Energy Interconnection Academy; promoting knowledge sharing on energy transition; strengthening resource mobilization and sustainable investment; promoting inclusive participation from youth, women, and other groups; and strengthening monitoring, evaluation, and continuous improvement.Chart: Overview of US market data on Friday, April 10, 2026The U.S. February factory orders month-on-month rate, the preliminary reading of the University of Michigan consumer sentiment index for April, and the preliminary reading of the one-year inflation rate expectations will be released in ten minutes.On April 10, Minister of Commerce Wang Wentao met with Serbian Minister of Domestic and Foreign Trade, Lazzarevic, who was visiting China. The two sides exchanged in-depth views on developing China-Serbia economic and trade relations. Wang Wentao stated that under the strategic guidance of the two heads of state, China-Serbia economic and trade cooperation has become increasingly close, with rapid growth in bilateral trade, deepening investment cooperation, and significant achievements in large-scale projects. China is willing to strengthen the alignment of its 15th Five-Year Plan with Serbias "National Development Strategy 2030," expand imports from Serbia, and continuously deepen cooperation in areas such as green development, the digital economy, and supply chains. China welcomes Serbian enterprises to continue participating in important exhibitions and events such as the China International Import Expo and the China-Central and Eastern European Countries Expo, promoting the steady and long-term development of China-Serbia and China-Central and Eastern European Countries economic and trade cooperation.The Dow Jones Industrial Average opened down 17.53 points, or 0.04%, at 48,168.27 on Friday, April 10; the S&P 500 opened up 17.90 points, or 0.26%, at 6,842.56; and the Nasdaq Composite opened up 120.08 points, or 0.53%, at 22,942.49.

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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