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On August 5th, the Dow Jones Industrial Average and S&P 500 both extended their gains to 2%, while the Nasdaq Composite rose 2.7%. The Philadelphia Semiconductor Index rose by 7%, with Arm (ARM.O) up 17.4%, Intel (INTC.O) up 10.9%, AMD (AMD.O) up 9.3%, Broadcom (AVGO.O) and Qualcomm (QCOM.O) both up over 7%, and Nvidia (NVDA.O) up 2.5%.Fitch Ratings: New U.S. student visa rules will put pressure on some universities.The Federal Reserve accepted a total of $2.551 billion from three counterparties in its fixed-rate reverse repurchase operations.U.S. Central Command: As of August 4, the U.S. military had altered the routes of 45 merchant ships, rendered two merchant ships inoperable, and boarded and inspected two merchant ships to ensure they were in compliance with regulations.August 5th - According to renowned tech journalist Mark Gurman, with Apples (AAPL.O) biggest product launch event of the year approaching, the company is opening a lottery for US retail employees who wish to participate in the in-person event. An internal memo indicates that the lottery allows retail employees to apply for on-site work, assisting with tasks such as organizing queues, registering visitors, greeting attendees, providing directions, and supporting the security team. The company informed employees that the event will be held in the first half of September, but did not provide a more specific date. Historically, Apples iPhone launch events are typically held on the second Tuesday or Wednesday of the month. Given that Labor Day falls on Monday, September 7th, the likelihood of a Wednesday event is slightly higher. This Septembers event will be the first major product launch under CEO John Ternus, who will succeed Tim Cook as Apples CEO on September 1st.

The USDCAD attempts to build a position above 1.3350 as oil bids approach $85.00

Alina Haynes

Nov 17, 2022 11:51

 截屏2022-11-17 上午10.21.43.png

 

In Asia, the USDCAD pair's volatility has decreased to a range of 1.3314-1.3345 following a vertical rebound from a key support level near 1.3230. As a result of the severe pressure on oil prices, the asset is lingering near its weekly peak and seeking to add to its gains. Contrary to USDCAD bullish wagers, market optimism is regaining traction.

 

The S&P500 futures are recovering from Wednesday's losses. As Target Corporation (NYSE:TGT) issued a gloomy forecast for consumer spending, the S&P 500 index dropped. Following a minor recovery from 106.20, the performance of the US dollar index (DXY) is underwhelming. As clouds of uncertainty have cleared, the Russia-Poland-led upswing in the DXY could reach its conclusion.

 

In the interim, 10-year US Treasury rates have rebounded somewhat to roughly 3.71 percent, having dipping below 3.7% earlier. As the possibility of a fifth straight rate hike by the Federal Reserve (Fed) of 75 basis points (bps) is extremely low, the downturn appears less certain. According to CME FedWatch, there is a 17% chance of a 75 basis point rate hike.

 

The words of Esther George, president of the Federal Reserve Bank of Kansas City, have strengthened the case for a recession to temper inflationary pressures. A Fed official stated in an interview with the Wall Street Journal that it may be impossible to cut inflation without sparking a recession. In addition, he proposed for a decrease in the rate of rate increases commencing in CY2022.

 

In terms of the Canadian dollar, lower oil prices have led to currency volatility. As the number of sick patients continues to soar, China's relaxing of Covid-19 restrictions has failed to improve oil prices. In addition, clarity on the Russia-Poland disagreement has reduced the probability that the trading bloc will impose swift sanctions on Russia.

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