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On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.On December 21, six sources familiar with U.S. intelligence said that a U.S. intelligence report continues to warn that Russian President Vladimir Putin has not abandoned his goal of occupying the whole of Ukraine and reclaiming the European parts of the former Soviet Union. This report contrasts sharply with the account given by U.S. President Donald Trump and his Ukrainian peace negotiators, who claim Putin wants to end the conflict. According to one of the sources, the latest report was dated late September. This intelligence also contradicts Putins denial of posing a threat to Europe. According to the sources, this intelligence is largely consistent with the views of European leaders and intelligence agencies that Putin covets the entire territory of Ukraine and former Soviet states, including some NATO member states.December 21 - According to the Japan Meteorological Agency, a 5.5-magnitude earthquake struck off the eastern coast of Aomori Prefecture, Japan, at approximately 10:29 a.m. local time on December 21. The maximum tremor was felt as a 4, and the epicenter was 50 kilometers deep.On December 21, the United States intercepted another oil tanker off the coast of Venezuela, which the Venezuelan government called an act of piracy. Jeremy Paner, a partner at the Washington-based law firm Hughes Hubbard and a former investigator with the Office of Foreign Assets Control (OFAC), said the ship was not subject to U.S. sanctions. “The seizure of a vessel not sanctioned by the United States marks a further increase in pressure on Venezuela by Trump,” Paner said. “This also contradicts Trump’s statements that the U.S. will blockade all sanctioned oil tankers.”

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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