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September 3rd - RatingDog Chinas services PMI for August was 51.4, up 1.0 percentage point from July, marking the 44th consecutive month in expansion territory, with a slight increase in the pace of expansion. Demand-side growth improved. New business volume increased for the 44th consecutive month, with the growth rate accelerating compared to July. New export business continued to expand for the fourth consecutive month, although the growth rate slowed further from the years high in June. Business expectations for the next 12 months rebounded from the recent low in July. Cost pressures rose slightly, while employment continued to expand. Input price increases rebounded slightly from the six-month low in July, but remained moderate overall. Sales prices rose slightly for the third consecutive month. Employment size rebounded for the fourth consecutive month, marking the longest consecutive growth period since 2023. Overall, the service sector expansion rate in August rebounded slightly from July, with faster growth in business activity and new orders, continued employment expansion, and improved business confidence.Chinas RatingDog Composite PMI for August was 52.1, compared to 50.8 in the previous month.September 3 – According to the Wall Street Journal, sources familiar with the matter revealed that six months ago, when the US launched military action against Iran, Defense Secretary Hergsays pledged a swift and decisive strike to avoid a protracted conflict. Now, he is quietly extending troop deployments, suggesting the conflict could continue into next year. Sources indicated this is part of a US military strategy without a clear timeframe, designed to give Trump more options in a war. However, the deployment of 19 warships, air defense units, fighter squadrons, and paratroopers across the region is increasing pressure on US personnel and their families, while the resulting maintenance backlog could take years to clear. One source stated that the standard deployment period for Army air defense units responsible for intercepting Iranian missiles and drones under high-pressure conditions has been extended from nine months to 12 months. Some units originally planned for deployment in Europe and the Pacific but later redeployed to the Middle East have been deployed for over a year.According to the Kuwait News Agency: Alarms have been sounded nationwide.On September 3, local time, the defense team of Venezuelan President Maduro, who is under the control of the United States, filed a motion in the Southern District of New York Federal Court on September 2, requesting the dismissal of the fourth alternative indictment against him on the grounds of immunity. Judge Alvin Hellestein scheduled the hearing for the motion to be held on the morning of November 17, 2026. The defense team attached a legal memorandum, a statement from Pollack, and several annexes to the request, including a ruling from the Constitutional Court of the Venezuelan Supreme Court dated January 3, 2026, a document from the United Socialist Party, and two rulings from Italian courts. It is understood that the filing of this motion does not mean the case has been dismissed. The prosecution will now respond, and the judge will decide whether this defense claim stands against the charges brought by the United States.

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.