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According to Nikkei: Nissan Motor is about to stop car production at its Mexican plant in its joint venture with Mercedes-Benz.Nvidia CEO Jensen Huang: TSMC (TSM.N) plans to introduce its most advanced packaging technology to the United States in the coming months.U.S. airline shares fell, with American Airlines Group (AAL.O) down 5%, Delta Air Lines (DAL.N) down 3.6%, United Airlines (UAL.O) down 3.6% and Southwest Airlines (LUV.N) down 3.6%.Nvidia CEO Jensen Huang: Nvidia will start doing more chip packaging work in the United States in the "coming months."On October 29th, Tesla (TSLA.O) viewed its upcoming CyberCab as its long-promised affordable electric vehicle and was willing to make fundamental design adjustments to achieve mass sales—in short, transforming it into a traditional model controllable by human drivers. "If regulations require a steering wheel, we can add a steering wheel and pedals," Tesla Chairwoman Robin Denholm stated in an exclusive interview with the media on Tuesday. Denholm, who is actively lobbying shareholders to approve Musks exorbitant compensation package, made these remarks, revealing the significant flexibility within Teslas product roadmap. While some investors support Musks decision to go all-in on fully autonomous vehicles early last year, others are concerned about this high-risk strategy. Market concerns are that without a new electric vehicle positioned below the Model 3, Teslas growth will face a bottleneck. Denholm clarified that the CyberCab is what investors commonly refer to as the "Model 2."

USD/CAD Bears In Control And Aiming At Support Zone Lows

Alina Haynes

Apr 04, 2023 13:53

USD:CAD.png 

 

The USD/CAD exchange rate is unchanged on the day after a succession of negative impulses drove the price into new territory to the downside and deeper into a support region as a result of the oil price rally. The USD/CAD exchange rate was 1.3431 at the time of writing.

 

Monday's 6.3% rise in West Texas Intermediate WTI crude oil to an intraday high of $81.51 strengthened the CAD. The oil price surged after the OPEC+ cartel surprised the market with a production cut of 1.1 million barrels per day to support prices, with the cartel announcing that it will reduce output prior to Monday's ministerial meeting.

 

Analysts at TD Securities observed that the Bank of Canada's Business/Consumer Surveys painted a more dovish picture ahead of the April BoC meeting, with a marked improvement in capacity pressures and consumer inflation expectations.

 

Analysts noted that firm-level inflation expectations continue to be elevated and that consumer growth and income expectations have also increased since the fourth quarter.

 

''The Bank of Canada should be pleased with these results, which indicate a decline in capacity pressures and a moderation in inflationary pressures. However, inflation expectations remain a formidable impediment to near-term relief. If growth does not decelerate substantially in the second quarter, it may be difficult for the Bank of Canada to keep rates at 4.50 percent. Analysts believe that the report is optimistic for CAD.


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