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Japanese Prime Minister Sanae Takaichi: The US-Japan alliance and friendship are built on deep trust and close, solid cooperation.Japanese Prime Minister Sanae Takaichi: The potential of our alliance is limitless.According to Lighthouse Pro, as of 11:51 a.m. today, the total pre-sale box office for new films scheduled for the 2026 Spring Festival has exceeded 10 million yuan.On February 9th, according to Tianyancha intellectual property information, Xiaomi Automotive Technology Co., Ltd.s patent application for "Suicide Door Vehicle and Locking Assembly" was granted on February 6th. The abstract shows that the disclosed suicide door vehicle includes a vehicle body, a first door body, a second door body, a locking assembly, and a hinge assembly. The rotating side of the first door body is hinged to the vehicle body; the rotating side of the second door body is also hinged to the vehicle body, and the opening side of the second door body is used to engage with the opening side of the first door body; the locking assembly is disposed on the vehicle body and can move along a first direction between a first position and a second position, and remains locked to the locking assembly during the movement of the opening side of the second door body between the first and second positions; the hinge assembly is disposed on the vehicle body and connected to the rotating side of the second door body, allowing the rotating side of the second door body to detach from or approach the vehicle body along a first trajectory, and causing the opening side of the second door body to rotate and open or close along a second trajectory. Based on this, the disclosed invention can achieve disordered door opening of the suicide door vehicle, improving the user experience.On February 9th, it was reported that on February 5th, 2026, General Motors filed an application with the U.S. International Trade Commission under Section 337 of the Tariff Act of 1930, alleging that certain automotive parts, components, and vehicles containing a machine exported to, imported into, or sold in the U.S. infringe its patent rights. General Motors requested a Section 337 investigation and the issuance of a general exclusion order, a limited exclusion order, and a cease and desist order. Twenty companies, including those from the U.S. and China, are involved in the case.

USD/CAD declines to 1.3500 on firmer Oil prices, BoC concerns over US inflation, and Fed Minutes

Daniel Rogers

Apr 10, 2023 14:35

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The USD/CAD maintains losses close to 1.3500, shattering a four-day winning trend, as traders brace for key Easter Monday data/events on major bourses. However, the recent decline in the Loonie-U.S. dollar exchange rate may be due to the increase in the price of WTI petroleum oil, Canada's primary export. In contrast to the recent increase in ardent Fed forecasts, the Bank of Canada's (BoC) dovish bias poses a challenge to pair sellers.

 

After increasing for three consecutive weeks, WTI crude oil prices gain 0.61 percent intraday near $80.00. Recent increases in the price of black gold may be due to geopolitical concerns surrounding China and Taiwan. In addition to the supply cut by OPEC+ and the faltering US dollar, the energy benchmark is sustained by the supply cut by OPEC+ and the weakening US dollar.

 

However, the US Dollar Index (DXY) has fallen for three consecutive weeks and is under pressure near 102,000.

 

Fears of higher Fed rates versus inaction from the Bank of Canada (BoC) grew after the upbeat US Jobs report versus the lack of significant positives in the March Canadian jobs report.

 

As a result, the CME's FedWatch Tool indicates a 69% chance of a 0.25 basis point rate hike in May, up from 55% prior to the US employment report.

 

Canada's headline Net Change in Employment increased to 34.7K in March from 21.8K in February, compared to the market consensus of 12K, while the Unemployment Rate came in at 5% versus the analysts' estimate of 5.0%. During the specified month, the Participation Rate decreased to 65.6% from the expected and previous rate of 65.7%. In addition, the average hourly wage fell 5.2% year-over-year in March, down from 5.5% in February.

 

In contrast, the US Bureau of Labor Statistics (BLS) reported that Nonfarm Payrolls (NFP) increased by 236K in March, the lowest increase since January 2021 (considering revisions), compared to the expected 240K and the previous 330,000. Additionally, the unemployment rate fell from 3.6% to 3.5%, while the labor force participation rate rose from 62.6% to 62.6%. The annual wage inflation rate decreased from 4.6% to 4.2%, below market expectations of 4.3%.

 

Futures on US equities ended higher, but yields remain under pressure ahead of the crucial BoC monetary policy meeting, US inflation, and Fed Minutes. Given the dovish concerns from the Bank of Canada (BoC) and the likely hawkish comments in the FOMC Minutes, the USD/CAD may see additional gains, barring any unexpected developments.


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