EUR/USD 1.17508

USD/JPY 159.189

GBP/USD 1.35242

GBP/JPY 215.294

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According to Irans Tasnim News Agency, Iran has received "some indication" that the United States is preparing to lift the blockade.April 22 - According to Irans Tasnim News Agency, Iran stated that it has taken maritime law enforcement action against a container ship that ignored warnings. This comes after the UK-based Maritime Trade Operations Centre reported that Iranian armed forces opened fire on a container ship that ignored multiple warnings, causing significant damage to the vessel.April 22 – Shanghai Customs reported that Pudong New Areas foreign trade achieved a strong start in the first quarter of this year, with total import and export value reaching 795.27 billion yuan, a year-on-year increase of 32.8%, setting a new historical record for quarterly import and export volume. Exports reached 314.62 billion yuan, up 25.7%; imports reached 480.65 billion yuan, up 37.9%. Exports of high-end and green products were driven by both sectors. Pudong New Areas high-end equipment manufacturing industry adhered to innovation-driven development, with products selling well globally. In the first quarter, exports of shipbuilding and marine engineering equipment and ship-to-shore cranes reached 9.37 billion yuan and 5.02 billion yuan respectively, representing increases of 93.9% and 100%. The artificial intelligence industry is booming, with industrial robot exports reaching 440 million yuan, up 67.1%; exports of intelligent bionic robots with a separate tariff code this year reached 47.342 million yuan, accounting for more than 20% of the national total. Exports of the "new three pillars" representing green and low-carbon technologies and wind turbine generator sets increased by 120% and 400% respectively.April 22 – The Third High-Level Meeting of the Global Forum on Shared Development Actions was held in Beijing. Wang Yi, Member of the Political Bureau of the CPC Central Committee and Director of the Office of the Central Foreign Affairs Commission, attended the opening ceremony and delivered a speech. Wang Yi emphasized that China is willing to work with all parties to leverage the implementation of global development initiatives as a platform to pool broad development resources, build a solid foundation for development, adhere to the path of peaceful development, create an open development environment, and continuously move towards the lofty goal of building a community with a shared future for mankind. China will take proactive measures, deepen cooperation, and always act as a promoter and contributor to global development, working with all parties to create a new landscape for global development through pragmatic actions.On April 22nd, Kuaishou (01024.HK) announced at its 618 Merchant Conference that its 618 promotion will launch in early May, divided into five phases: pre-sale period, opening day, themed days, category days, and closing day, lasting until mid-to-late June. During this promotion, the platform will utilize AI intelligent models to assist merchants in diagnosing operational issues and providing targeted business guidance.

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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