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On May 15, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter asked, "The White House claims that during the meeting between the Chinese and US leaders, China agreed to reopen the Strait of Hormuz. Can China confirm this?" Guo Jiakun stated that the recent ceasefire between the US and Iran, exploring solutions through negotiations, has been welcomed by regional countries and the international community. China has always maintained that dialogue and negotiation are the right path, and that a military solution is not the way forward. Now that the door to dialogue has been opened, it should not be closed again. The momentum of easing tensions should be stabilized, the general direction of a political solution should be upheld, and a solution that takes into account the concerns of all parties should be reached through dialogue and consultation on issues such as the Iranian nuclear issue. The strait should be reopened as soon as possible to respond to the calls of the international community and jointly maintain the stability and smooth flow of global supply chains. A comprehensive and lasting ceasefire should be reached as soon as possible to promote the early restoration of peace and stability in the Middle East and the Gulf region, laying the foundation for building a sustainable regional security architecture.Russian Foreign Minister Lavrov: Russia hopes to end the war with Iran and achieve a sustainable solution.Russian Foreign Minister Sergey Lavrov: Western intervention, whether through military force or regime change, will increase the complexity of the situation in the Middle East and North Africa.On May 15, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from The New York Times asked whether China and the United States had reached any agreements on agriculture. Guo Jiakun stated that during the visit, both sides reached important consensus on maintaining stable economic and trade relations, expanding pragmatic cooperation in various fields, and properly resolving their differences. China is willing to work with the United States to implement the important consensus reached by the two heads of state, based on the principles of equality, respect, and mutual benefit, to continuously expand the list of cooperation and achieve mutual benefit and win-win results.On May 15, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from Japans Asahi TV asked, "Did the Chinese and US leaders discuss cooperation on artificial intelligence? What were the outcomes? How will China cooperate with the US on artificial intelligence?" Guo Jiakun stated that China has always advocated that all parties jointly promote the open, inclusive, universally beneficial, and benevolent development of artificial intelligence.

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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