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On January 16, Huang Qing, spokesperson for the State Energy Group, said at the groups 2025 work conference that in 2025, the reform of investment companies will be accelerated, the high-quality development of the capital market will be actively promoted, and the implementation of market value management by its listed companies will be promoted to enhance the market recognition and value realization of listed companies. Huang Qing said that this year, we will adhere to deep reforms, stimulate vitality, and strive to improve the ability to govern and promote enterprises. Focus on key tasks, improve the overall promotion mechanism of reforms, fully release the effectiveness of reforms, and form a number of landmark reform achievements. Promote the deepening and upgrading of state-owned enterprise reforms in an integrated manner, refine and deepen the "science and technology reform" and "double hundred" actions, and cultivate more reform samples. Accelerate the improvement of modern corporate governance, fully implement the two "consistent", launch a new round of charter standardization actions, deeply implement the construction and upgrading of the board of directors of subsidiaries, and deepen the reform of the "three systems".The onshore RMB closed at 7.3317 against the U.S. dollar at 16:30 on January 16, up 2 points from the previous trading day.TSMC Chairman Wei Zhejia: We expect that in the first two years, the number of new wafer launches, 2-nanometer technology will exceed the performance of 3-nanometer and 5-nanometer in the first two years.TSMC Chairman Wei Zhejia: It is predicted that the revenue of artificial intelligence accelerators will double in 2025.TSMC Chairman Wei Zhejia: Entering 2025, we expect excellent semiconductor inventories to recover to healthy levels exceeding 2024.

Buyers in the USD/CAD currency pair are keeping an eye on the 1.3580s as a key support level

Alina Haynes

Mar 03, 2023 13:59

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The price of USD/CAD is steady as the week comes to an end in Asia; it is currently trading at around 1.3580, down from the day's highs of 1.3601.

 

As Unemployment Claims showed a strong US job market on Thursday, the US dollar gained. The yield on two-year Treasury notes, which is influenced by forecasts for interest rates, consequently rose to values last seen in July 2007. Futures moved marginally higher, with the market setting a maximum fed funds rate of 5.493% in September before it dipped to 5.447% later in the trading session.

 

The Federal Reserve is the center of attention, and Raphael Bostic, president of the Atlanta Fed, stated on Thursday that the central bank is prepared to keep raising rates if inflation does not moderate and that it is still considering how recent, higher-than-expected inflation data may affect Fed policy. The Fed should continue with "constant" quarter-point rate rises, even though the effects of higher rates on the economy might not "bite" in earnest until this spring.

 

The internal economy of Canada, meanwhile, experienced growth that was flat SAAR compared to the 1.6% anticipated and a revised 2.3% (was2.9%) in Q3, which was the lowest since Q2 2021. The yearly growth rate slowed to 2.3% from 2.8% in November as a result of the 0.1% month-over-month decline in GDP in December, compared to the 0.1% anticipated. The next meeting is scheduled for March 8, but according to WIRP, a final 25-bp rise to 4.75% is still factored in for Q3. The BoC has signaled a pause in its increasing cycle, and as a result, the Canadian currency is likely to keep finding it difficult to advance against the USD.


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