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On September 10, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended and addressed the opening ceremony of the Ministerial Forum on International Cooperation in Mining and the 2026 China International Mining Conference in Tianjin. He Lifeng pointed out that international cooperation in mining is an important vehicle for achieving complementary advantages among countries and promoting economic and social development, and it is also a practical need for maintaining the security and stability of the global supply chain. China has always fully respected the mineral resource sovereignty of all countries, supported each country in independently choosing resource development and industrial development paths suited to its national conditions, and is willing to deepen all-round pragmatic cooperation with all countries, share opportunities for mining development, and jointly create a bright future for a mutually beneficial, win-win, green, and prosperous global mining industry. During his stay in Tianjin, He Lifeng also inspected the construction and operation of the Sino-Singapore Tianjin Eco-City, the Tianjin Binhai-Zhongguancun Science and Technology Park, the national-level economic and technological development zone, and the comprehensive bonded zone.European Central Bank President Christine Lagarde: It is impossible to predict what the next step will be.European Central Bank President Christine Lagarde: There is nothing to announce regarding my future work arrangements.On September 10th, Deutsche Banks chief European economist, Mark Wahl, stated that despite rising inflation risks, the European Central Bank (ECB) should proceed with caution if it intends to raise interest rates again before the end of the year. The ECB raised its key interest rate by 25 basis points to 2.5% on Thursday. Wahl noted that a rate hike in December now seems highly likely. However, despite the economys resilience over the past six months, the sharp rise in natural gas prices indicates a negative supply shock is building. He said, "This will eventually hurt economic growth. The question is how much damage it will cause and when it will manifest."ECB President Christine Lagarde: The ECB will fulfill its responsibilities.

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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