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June 9 - According to the website of the China Maritime Safety Administration, the Beihai Maritime Safety Administration issued a navigation warning that military training will be conducted in parts of the Beibu Gulf from 8:00 to 15:00 daily from June 10 to 12, and vessels are prohibited from entering these areas.Germanys seasonally adjusted industrial production rose 0.4% month-on-month in April, the largest increase since October 2025.Germanys industrial output, adjusted for working days, fell 0.5% year-on-year in April, compared with a previous reading of -2.80%.June 9 – On June 9, Chinese President Xi Jinping and Georgian President Dmitry Kavelashvili exchanged congratulatory messages to celebrate the 34th anniversary of the establishment of diplomatic relations between the two countries. Xi Jinping emphasized that regardless of changes in the international situation, China has always viewed China-Georgia relations from a strategic and long-term perspective. He added, “On this occasion, I would like to jointly announce with President Kavelashvili that China-Georgia relations will be upgraded to a comprehensive strategic partnership. I believe this will open up new prospects for the development of China-Georgia relations, write a new chapter in the traditional friendship between the two countries, inject strong impetus into mutually beneficial cooperation, and create more benefits for the people of China and Georgia.”Germanys seasonally adjusted industrial production rose 0.4% month-on-month in April, below the expected 0.5% and the previous reading of -0.70%.

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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