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BP: An incident occurred at BP’s Cherry Point refinery on Saturday morning, April 18, resulting in injuries to three people.On April 19th, the Victorian government announced that all public transport will be free in May, with fares halved for the remainder of the year. The measure will cost approximately AU$432 million (US$310 million). This move aims to increase support for consumers affected by high fuel prices, exacerbated by the Middle East wars leading to soaring fuel costs and a fire at one of Australias last two refineries, further fueling concerns about fuel supplies.The Iranian Martyrs Foundation reports that the war between the US, Israel, and Iran has resulted in the deaths of 3,468 Iranians.On April 19th, according to Hubei Daily, on April 16th, the V1000 passenger-type eVTOL (electric vertical takeoff and landing) prototype made its first public appearance after rolling off the assembly line at the Wuhan Xunqi Technology Co., Ltd. workshop in the Wuhan Economic and Technological Development Zone Low-Altitude Economy Industrial Park, attracting the attention of visitors. Reporters at the scene observed that the V1000 passenger-type aircrafts appearance is closer to that of a passenger plane, with windows and added seats. Xu Zhilin, chief engineer of the Wuhan Xunqi Technology project, said, "The V1000 passenger-type aircraft is expected to make its maiden flight in June this year. Currently, airworthiness certification work is underway, and it is expected to be officially launched to the market around 2030."On April 19th, Unitree Robotics officially announced that in the Beijing Humanoid Robot Marathon qualifying race on April 16th, Unitree H1 (23-year revised version) autonomously completed the 1.9-kilometer multi-curve course in 4 minutes and 13 seconds, breaking the human 1500-meter world record (calculated proportionally).

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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