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Trump: Ukraine will receive massive support, including $350 billion and military equipment to keep fighting.Conflict situation: 1. Russian Defense Ministry: Russian air defense forces destroyed 19 Ukrainian drones last night. 2. Air raid alerts were issued throughout Ukraine, and the Air Force warned that Russia would launch a missile attack. 3. The Ukrainian Air Force shot down 6 missiles and 133 drones launched by Russia at night. Peace talks: 1. People familiar with the matter revealed that the UK is discussing convening European leaders for further talks on the Russian-Ukrainian conflict, which may be held as early as Sunday. 2. Ukraine agreed to the US mineral agreement after the United States gave up its most stringent demands. The Ukrainian cabinet is expected to recommend signing a key mineral deal with the United States on Wednesday. 3. The Kremlin: (When asked about the UN vote on Ukraine on Monday) The US position is more balanced, and Europes position on Ukraine may become more balanced due to engagement with the United States. 4. Trump: Ukraine will need some form of peacekeeping force. The future rare earth metal agreement signed with Ukraine may be valued at $1 trillion. 5. Trump: Sanctions on Russia will be lifted at some point. Hope to reach an agreement to gain access to Russias rare earth resources. 6. Source: Ukrainian President Zelensky plans to travel to Washington on Friday to meet with US President Trump. Others: 1. Polish Armed Forces: After Russia launched an attack on Ukraine, Poland urgently dispatched military aircraft to ensure the safety of its airspace. 2. The Ukrainian Parliament supports Zelenskys extension of his term, and Musk calls for elections. 3. British Prime Minister Starmer: Britains support for Ukraine has risen to a record level. 4. Peskov: Russia has rich rare earth reserves, and Russia and the United States have broad room for cooperation in this field.On February 26, "The amount of MLF due in February was 500 billion yuan, and 300 billion yuan was renewed on February 25, which is equivalent to a 200 billion yuan reduction in MLF in February." Wang Qing, chief macro analyst at Orient Securities, said that considering that the central bank had carried out a 1.7 trillion yuan buy-out reverse repurchase operation in January, it was equivalent to releasing large-scale medium-term liquidity in advance to cope with the large amount of MLF due in February. This also means that although the MLF has continued to shrink since October 2024, the central bank has not reduced its medium-term liquidity injection. Experts believe that although the central bank has recently suspended the purchase of treasury bonds in the secondary market, it is expected to maintain medium-term market liquidity at a relatively reasonable level through large-scale buy-out reverse repurchases, so as to support banks to increase credit supply at the beginning of the year, support government bond issuance, and stabilize market expectations.Lucid Group (LCID.O) interim CEO: The company plans to launch a mid-size car at the end of this year or early next year.According to Eastern European media Visegrad 24: Trump said that Ukraine will have enough weapons to continue fighting until the United States and Russia reach an agreement to resolve the Russia-Ukraine conflict.

Following a drop in oil prices, the USD/CAD has recovered

Larissa Barlow

Apr 01, 2022 10:03

Tips 

  • The dollar soared as progress in the Russia-Ukraine peace talks stalled.

  • Yields declined as investors considered inflation and macroeconomic indicators.

  • Because of the persistent geopolitical uncertainties, gold and silver prices have risen.

  • Oil prices are falling as Vice President Biden considers unleashing strategic petroleum stockpiles.

 

The dollar rises against the Loonie as modest progress in peace talks weakens the commodity-linked Loonie. Benchmark rates have fallen as inflation and macroeconomic data hint to rate hikes of 50 basis points. Until Biden's oil announcement, gold prices were on track for their strongest quarter in a decade. The announcement decreased demand for safe-haven gold and alleviated inflation concerns. Due to minimal progress in peace talks, the dollar rose versus the Euro and other commodity-linked currencies. Oil prices have fallen as the Biden administration considers deploying vast amounts of oil reserves. The government may release 180 million barrels over a six-month period, amounting to one million barrels every day. The United States has a stockpile of 570 million barrels. The strategy may have a greater impact on energy prices.

 

The PCE Deflator, which the Fed monitors, increased by 6.4 percent in February, up from 6 percent in January. The PCE index is a measure of the prices paid for goods and services in the domestic market. The reading was the largest increase since 1982. The figures point to a more significant growth in goods prices, while services remained relatively unchanged. Concerns regarding economic development arose as a result of rising inflation caused by the Russia-Ukraine conflict. The Fed's preferred inflation index, core PCE inflation, which excludes food consumed at home and food services, climbed 5.4 percent year on year. The reading came up at 5.5 percent, which was little lower than expected.

Technical Evaluation

The USD/CAD is recovering as the Canadian dollar struggles with falling oil prices and continuing geopolitical tension. Despite today's recovery, the currency pair is under pressure and will continue to trade lower. Despite crossing above the key 1.25 barrier, the pair has since fallen below it and is now trading at 1.249. If the pair falls below 1.26, the negative trend may become less definite. Gains should be limited by resistance at the recent breakdown near 1.261. The horizontal trendline near the January lows of 1.246 provides support. Near the recent breakdown level of 1.261, resistance can be found. As a result of the fast stochastic's crossover buy signal, short-term momentum turns positive.

 

The MACD line generated a crossover sell signal, indicating a negative medium-term momentum. When the MACD line (the 12-day moving average minus the 26-day moving average) passes the MACD signal line, this occurs (the 9-day moving average of the MACD line).

 

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