EUR/USD 1.13865
0.150%
Gold 4071.52
1.116%
Oil 69.386
-2.717%
USD/JPY 161.751
-0.028%
GBP/USD 1.31980
0.059%
GBP/JPY 213.482
0.043%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The European-Mediterranean Seismological Centre reports a 5.6-magnitude earthquake off the coast of Aragua, Venezuela.June 28th - According to Politico, on February 28th, when US and Israeli warplanes attacked Iran, Israeli officials initially believed the alliance was entering a golden age. However, four months later, they are preparing for a future where Israel is more isolated than ever before. US Vice President Vance told Israel last week that it has virtually no friends left in the world and should not attack its only remaining powerful ally. But according to seven sources, including US and Israeli officials, Israels problems extend far beyond Vance; Vance is merely a symbol of the new normal where Israels status as a US ally no longer takes precedence over any other country. The tensions between the two sides are palpable. One source revealed that Israeli Prime Minister Netanyahu was scheduled to visit Washington five times in 2025. This year, however, he only visited once, in February, and telephone contact has significantly decreased.Israeli Prime Minister Netanyahu: We are close to controlling 70% of the Gaza Strip and surrounding Hamas.June 28 - According to foreign media reports on the 27th, citing official Iranian data, Irans inflation rate in June rose sharply to 88.6% year-on-year, affected by the Middle East conflict.On June 28, Iran launched a drone strike on Bahrain on Saturday, while simultaneously attacking a ship in the Strait of Hormuz, possibly in response to a US nighttime airstrike. The attacks in the Persian Gulf once again demonstrate that even with a provisional agreement between Iran and the US attempting to reach a final ceasefire, the Iran-Iraq war could still spiral out of control. This comes after the US Central Command stated that it launched strikes against Iran on June 26 in response to the attack on a merchant ship. Meanwhile, the International Maritime Organization announced on Saturday that it would widen the strait near Oman to allow two-way passage. This move could reignite tensions with Tehran, which views the strait as a key bargaining chip in ongoing negotiations with the US.

USD/CAD Approaches Exhaustion at 1.2830 as Oil Rebounds; BOC's Macklem Comes Under Fire

Alina Haynes

Apr 27, 2022 09:59

The USD/CAD pair is showing symptoms of weariness following a mammoth rally from last week's low of 1.2458. The asset has been climbing upward as safe-haven assets have been bolstered by negative market sentiment. While exhaustion signals at monthly highs of 1.2830 may be associated with a more robust recovery in oil prices.

 

China's pledge to strengthen its economy through conservative monetary policy has given oil prices a boost. Increased liquidity in the economy to boost demand will restore normalcy to oil requirements. The price of oil has recaptured the $100.00 level. The black gold was underperforming as the Covid-19 pandemic spread from Shanghai to Beijing, reigniting fears of a slide in China's aggregate demand. Additionally, the Beijing mass testing was used to call for severe lockdown measures.

 

It's worth mentioning that China is the world's largest oil importer, and any concerns about the dragon economy's oil demand might have a significant impact on oil prices. Additionally, Canada is the largest oil exporter to the United States, and rising oil prices result in increased capital inflows into the loonie area.

 

Investors' attention will now turn to Tuesday's speech by Bank of Canada (BOC) Governor Tiff Macklem. Additionally, the US Gross Domestic Product (GDP) number for the third quarter will be released on the same day, and is predicted to decline to 7.2 percent.

USD/CAD

image.png 


Suggestion