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European Commission President Ursula von der Leyen: We need to pay close attention to Ukraine more than ever before.European Commission President Ursula von der Leyen: Secondly, the EU will work with the US and all partners to strengthen Arctic security.On January 21st, Hong Kong stocks opened lower but then trended higher, with the indices surging towards the close. The Hang Seng Tech Index rose as much as 1.7%, and the Hang Seng Index closed up 0.37% at 26,585.06 points. The Hang Seng Tech Index closed up 1.11% at 5,746.3 points. The total turnover of the Hang Seng Index market was HK$250.451 billion. On the sector front, gold and chip stocks strengthened, robotics concepts were active, and tech stocks rebounded; sporting goods and retail stocks declined. In terms of individual stocks, GigaDevice (03986.HK) rose over 6%, doubling its share price in just 7 days since its listing; Skyworth Group (00751.HK) resumed trading and rose 37.5%, MicroPort Robotics (02252.HK) rose 17.3%, TCL Electronics (01070.HK) rose nearly 15%, Delin Holdings (01709.HK) rose nearly 12%, Yuejiang (02432.HK) and Chifeng Gold (06693.HK) rose over 9%, Hua Hong Semiconductor (01347.HK) rose over 5%, and Kuaishou (01024.HK) rose 3.6%; Anta Sports (02020.HK) fell 4.2%, China Resources Land (01109.HK) fell nearly 3%, and Lenovo Group (00992.HK) fell 2.4%.On January 21, the General Office of the Guangdong Provincial Peoples Government issued several policy measures to empower the high-quality development of transportation through artificial intelligence in Guangdong Province. These measures include supporting breakthroughs in key technologies such as autonomous driving and platooning systems for trucks; exploring the integration of technologies such as unmanned driving, 5G communication, radar-visual fusion, video tracking, and vehicle-road collaboration; and supporting qualified regions in conducting intelligent driving platooning tests and applications for large-scale truck transportation in scenarios such as port collection and distribution, and manufacturing bases to logistics parks, to create smart logistics corridors. The measures also explore the large-scale application of unmanned transportation equipment in the freight sector, supporting the commercial application of unmanned heavy trucks in multimodal transport, dedicated line logistics, and closed industrial parks. Furthermore, the measures explore the integrated development of autonomous driving and new energy heavy trucks, supporting the innovative development of the automotive industry.On January 21, the General Office of the Guangdong Provincial Peoples Government issued several policy measures to empower the high-quality development of transportation through artificial intelligence in Guangdong Province. These measures encourage enterprises to conduct research and development on core technologies and innovative products such as end-to-end remote driving cockpits, intelligent decision-making, and precise prediction and control; to create high-quality datasets, toolchains, and algorithm libraries; and to promote the application of large-scale autonomous driving models. The measures also encourage eligible cities to explore the construction of autonomous driving regulatory platforms, support eligible free trade zones and administrative regions to take the lead in promoting mutual recognition of pilot demonstration applications of intelligent connected vehicles, and support cities in steadily and orderly opening up multi-scenario road testing applications of autonomous driving and expanding the application areas of high-level autonomous driving.

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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