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April 12 - Reports indicate that an Iranian delegation will hold a press conference in Islamabad, the capital of Pakistan, regarding the Iran-US negotiations.On April 12, Reserve Bank of New Zealand (RBNZ) Governor Anna Brehman stated that the RBNZ will soon announce measures to increase the transparency of its monetary policy decisions. Currently, the RBNZs Monetary Policy Committee determines the official cash rate either through consensus or by vote, but the individual members decision-making processes are not disclosed. When asked on Sunday whether she supported making the voting results public, Brehman said, "This is a decision made between the Monetary Policy Committee and the Minister for Finance. We have completed the relevant procedures and will announce any possible adjustments soon." Brehman joined the RBNZ from the Swedish Federal Reserve in early December. The RBNZ is considered one of the most transparent central banks globally. She now holds press conferences after each interest rate decision (instead of just quarterly), and from 2027 onwards, the Monetary Policy Committee will make eight interest rate decisions annually, up from the current seven.According to Irans Tasnim News Agency on the 12th, the time, place, and plan for the next round of negotiations between Iran and the United States have not yet been announced.With the US-Iran talks concluded, US Vice President Vance has left Pakistan, and the Iranian delegation will also depart on the 12th.April 12 – To promote the peaceful development of cross-strait relations and enhance the well-being of compatriots, the Taiwan Affairs Office of the CPC Central Committee, in consultation with relevant departments, has been authorized to issue the following policy measures: Explore the establishment of a regular communication mechanism between the Kuomintang (KMT) and the Communist Party of China (CPC). Establish a formalized platform for two-way exchanges between young people of the two parties. Promote water, electricity, gas, and bridge connections between coastal Fujian and Kinmen and Matsu, where conditions permit, to enhance the interests and well-being of the people of Kinmen and Matsu. Promote the full resumption of normalized direct cross-strait air passenger flights to further facilitate personnel exchanges between the two sides. Establish a communication mechanism on the basis of adhering to the "1992 Consensus" and opposing "Taiwan independence" to facilitate the import of Taiwanese agricultural and fishery products that meet inspection and quarantine standards into the mainland.

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.