EUR/USD 1.15709
-0.060%
Gold 4210.65
-0.003%
Oil 82.881
-2.644%
USD/JPY 160.200
0.149%
GBP/USD 1.34105
-0.037%
GBP/JPY 214.841
0.121%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 14 - Israeli forces launched another airstrike on the southern outskirts of Beirut, the Lebanese capital, today (June 14). This comes after Iran launched a missile strike against Israel that evening following an Israeli attack on Hezbollah targets in the southern suburbs of Beirut on June 7.Preliminary forecasts indicate that the proposal to cap Switzerlands population at 10 million has approximately 45% support, while the opposition votes are around 55%.Libyas National Oil Corporation: Mabrook oil field production has reached 30,000 barrels per day.Reuters reported on June 14, citing a senior Iranian official, that Tehran has agreed not to produce or acquire nuclear weapons under a draft memorandum of understanding with the United States. Prior to a final agreement, Iran has agreed to maintain the status quo regarding its nuclear program, including refraining from uranium enrichment or expanding its nuclear facilities. The draft agreement includes the US agreeing to Tehran diluting its stockpile of highly enriched uranium, with the relevant mechanisms to be discussed within the next 60 days; the US will waive oil sanctions on Iran for a specific period, allowing Iran to sell oil and generate revenue; Iran will immediately reopen the Strait of Hormuz for all merchant ships, and the US will lift its naval blockade; the US has agreed to unfreeze $25 billion in Iranian assets, including through direct cash transfers, regional cooperation, and credit lines. Furthermore, the draft agreement stipulates that the US will not impose any new sanctions on Iran until a final agreement is reached.Preliminary forecasts indicate that Swiss voters tend to oppose the proposal to cap the population at 10 million.

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.


Suggestion