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June 30th - The National Bureau of Statistics stated that the high-tech manufacturing sector continued its positive trend in June. The PMI for high-tech manufacturing was 53.5%, up 0.6 percentage points from the previous month, significantly higher than the overall manufacturing sector, indicating continued positive development in high-end manufacturing and a further strengthening of its leading role. The PMIs for equipment manufacturing and consumer goods were 52.5% and 50.2% respectively, up 0.4 and 0.5 percentage points from the previous month, indicating improved industry activity. The PMI for high-energy-consuming industries was 47.1%, unchanged from the previous month.According to the National Bureau of Statistics, the composite PMI output index was 50.6% in June, up 0.1 percentage points from the previous month, indicating that the overall expansion of production and business activities of Chinese enterprises has accelerated slightly.June 30th - According to data from the National Bureau of Statistics, the non-manufacturing business activity index was 50.2% in June, up 0.1 percentage points from the previous month, indicating a slight recovery in the non-manufacturing sectors business activity. By sector, the construction industrys business activity index was 49.0%, up 0.2 percentage points from the previous month; the service industrys business activity index was 50.4%, up 0.1 percentage points from the previous month. Within the service sector, the business activity indices for telecommunications, broadcasting, television and satellite transmission services, internet software and information technology services, monetary and financial services, and insurance were all above 55.0%, indicating a relatively high level of activity; while the business activity indices for air transport and real estate were below the critical point.Chinas composite PMI was 50.6 in June, compared with 50.5 in the previous month.June 30th - According to data from the National Bureau of Statistics, the Manufacturing Purchasing Managers Index (PMI) was 50.3% in June, up 0.3 percentage points from the previous month, returning to expansion territory. By enterprise size, the PMI for large enterprises was 50.7%, down 0.4 percentage points from the previous month, but still above the critical point; the PMI for medium-sized enterprises was 50.5%, up 1.9 percentage points from the previous month, also above the critical point; and the PMI for small enterprises was 48.2%, down 0.3 percentage points from the previous month, below the critical point. Looking at the sub-indices, among the five sub-indices that constitute the Manufacturing PMI, the Production Index and New Orders Index were above the critical point, while the Raw Materials Inventory Index, Employment Index, and Supplier Delivery Time Index were all below the critical point.

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

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