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August 15th - According to the China State Railway Group, from January to July this year, the national railway system transported 2.8 billion passengers, a year-on-year increase of 4.1%, setting a new record for the same period.August 15th – Today (August 15th) marks the fourth National Ecological Day. The China Consumers Association today released the "China Consumer Green Consumption Guide (2026 Edition)". The guide focuses on the "3060" carbon peak and carbon neutrality target, using daily life as a foundation to help consumers increase their knowledge of green consumption, enhance their confidence in green consumption, and cultivate sustainable lifestyles. Based on my countrys socio-cultural background and residents daily life scenarios, the guide systematically proposes 50 action suggestions covering four major consumption areas: food, travel, energy, and daily necessities. These include advocating for the "Clean Plate Campaign," reducing the use of disposable tableware, promoting low-carbon travel, and encouraging prioritizing public transportation, cycling, or walking.Artificial Intelligence: 1. Alibaba open-sources Qwen 3.8, with its large-scale model exceeding 3 billion downloads globally. 2. Oracle: The Jupiter Project, its AI data center park project, is progressing as planned. 3. Apple reportedly moves beyond simply "borrowing" resources, partnering with Alibaba to train a large-scale model specifically for the Chinese market. 4. Zhipu: Releases the GLM-5.3 model, demonstrating better performance in complex coding and long-term tasks. 5. The Dark Side of the Moon issues a solemn statement: Be wary of suspicious transactions; suspected illegal and criminal activities have been reported to the public security authorities. 6. Broadcoms stock price fell nearly 7% intraday on Friday, as the market focused on its financing model behind its AI infrastructure expansion. 7. Anthropic reported preliminary revenue exceeding $11.5 billion for the second quarter of 2026, while also reporting positive adjusted operating profit. Other: 1. Turkey plans to launch a lunar probe early next year. 2. South Koreas ICT exports grew by 140% in July, setting a new record for July. 3. Guangdongs first "Token Loan" was launched, with initial trial loans reaching 28 million yuan. 4. Goldman Sachs is reportedly in talks to participate in Nvidias $500 billion AI funding round. 5. LG partners with Nvidia to launch a new generation of humanoid robots in the first quarter of next year. 6. Nvidia is reportedly scaling back its plan to provide $250 billion in guarantees for OpenAI data centers. 7. Yonhap News Agency: SK Group Chairman Chey Tae-won has appealed the verdict in his record-breaking divorce case. 8. SEC filings show that SoftBank Group has reduced its stake in TSMC by 71.5%, down to 565,000 depositary receipts.August 15th - According to the UAE News Agency, Abu Dhabi National Oil Company (ADNOC) stated that one of its vessels was attacked while sailing in the Strait of Hormuz on the evening of the 14th. No casualties were reported. ADNOC is the UAEs state-owned oil and gas company. The UAE has recently claimed on several occasions that its vessels have been attacked while transiting the Strait of Hormuz. The UAE Ministry of Foreign Affairs issued a statement early on the 14th stating that two ADNOC oil tankers were attacked by Iran while transiting the Strait of Hormuz on the evening of the 13th.August 15th - According to Indonesian rescue authorities, the earthquake has so far caused one death. The China Earthquake Networks Center officially measured a 7.7-magnitude earthquake at 5:58 AM on August 15th in the sea area near Flores Island, Indonesia (8.40°S, 121.40°E), with a focal depth of 20 kilometers.

USD/CAD Falls Towards 1.2800 Oil Rises Despite Hawkish FOMC Minutes

Alina Haynes

May 26, 2022 09:44

After failing to surpass 1.2820 during the Asian session, the USD/CAD pair has experienced a dramatic decline. The pair is targeting a drop below 1.2800 as market investors have abandoned the US dollar index (DXY) despite Wednesday's release of exceptionally hawkish Federal Open Market Committee (FOMC) minutes.

 

The FOMC minutes indicated that all FOMC members supported a 50 basis point (bps) increase in policy rates, which suggests that a sustained environment of policy tightening is imminent. Fed policymakers feel that the U.S. economy requires more massive rate rises because inflation is soaring and the job market is highly tight. Therefore, the necessity to return to neutral rates is really urgent. In addition, the Fed estimates neutral rates to be at 2.9%.

 

In the meantime, oil prices have surpassed the key resistance level of $110.00 as speculators anticipate a rebound in aggregate demand. The Chinese administration will shortly lift restrictions on the movement of people, commodities, and machinery in Shanghai, China, following a two-month lockdown. Notably, China is the largest importer of oil, and the revival of demand in China is sufficient to encourage oil bulls.

 

Traders should be aware that Canada is the major exporter of oil to the United States and that rising oil prices will result in a greater influx of capital into the Canadian dollar region.

USD/CAD

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