• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 25th, it was announced at a press conference held by the State Council Information Office that the 26th China International Fair for Investment and Trade will be held in Xiamen, Fujian Province, from September 8th to 11th. An official from the Ministry of Commerce stated that Chinas investment attraction situation is currently stable and improving, with foreign investors maintaining their enthusiasm for "investing in China." Ling Ji, spokesperson for the Ministry of Commerce, Vice Minister, and Deputy Representative for International Trade Negotiations, stated that Chinas investment attraction situation is currently stable and improving. By the end of 2025, Chinas stock of foreign investment is expected to reach approximately US$4 trillion. From January to July this year, 38,000 new foreign-invested enterprises were established, and the decline in actual utilized foreign investment narrowed by 6.2 percentage points compared to the same period last year, reaching RMB 438.33 billion. "Here you can also see structural changes. The slowdown or even decline in the growth rate of foreign investment attraction is mainly in traditional sectors, while foreign investment in high-tech industries is continuously increasing," Ling Ji said. In the first seven months of this year, foreign investment in high-tech industries increased by 32.7% year-on-year, accounting for more than 40% of the increase in foreign investment. Survey reports released by chambers of commerce in China from the United States, the European Union, and other countries show that most foreign-invested enterprises have achieved good profits in China, and their willingness to increase investment and expand their operations has generally increased.Market news: A fire broke out at the Atyrau oil refinery in Kazakhstan.Japanese Prime Minister Sanae Takaichi: The US sanctions against International Criminal Court Judge Tomoko Akane are inconsistent with Japans position.Market news: Belarusian President Lukashenko announced plans to meet with Russian President Putin and Russian Prime Minister Mishustin.On August 25th, the Shanghai Futures Exchange (SHFE) reported the following changes in warehouse receipts for various commodities: 1. Petroleum asphalt plant warehouse futures receipts: 26,500 tons, unchanged from the previous trading day; 2. Petroleum asphalt warehouse futures receipts: 14,230 tons, unchanged from the previous trading day; 3. Medium-sulfur crude oil futures receipts: 2,961,000 barrels, unchanged from the previous trading day; 4. Hot-rolled coil futures receipts: 229,491 tons, a decrease of 592 tons from the previous trading day; 5. TSR20 rubber futures receipts: 13,003 tons, unchanged from the previous trading day; 6. Lead futures receipts: 57,016 tons, unchanged from the previous trading day; 7. Silver futures receipts: 1,412,903 kg, a decrease of 8,220 kg from the previous trading day; 8. Aluminum futures receipts: 262,514 tons, a decrease of 1,923 tons from the previous trading day; 9. Butadiene rubber futures warehouse receipts: 24,970 tons, unchanged from the previous trading day; 10. Nickel futures warehouse receipts: 101,800 tons, down 54 tons from the previous trading day; 11. Pulp warehouse futures warehouse receipts: 379,045 tons, up 4,564 tons from the previous trading day; 12. Pulp mill warehouse futures warehouse receipts: 20,000 tons, unchanged from the previous trading day; 13. Copper futures warehouse receipts: 38,619 tons, down 2,484 tons from the previous trading day; 14. International copper futures warehouse receipts: 6,669 tons, down 126 tons from the previous trading day; 15. Stainless steel warehouse futures warehouse receipts: 81,808 tons, down 242 tons from the previous trading day; 16. Fuel oil futures warehouse receipts: 20,420 tons, unchanged from the previous trading day; 17. Rebar warehouse futures warehouse receipts: 39,130 tons, unchanged from the previous trading day; 18. 19. Alumina futures warehouse receipts: 252,902 tons, unchanged from the previous trading day; 20. Tin futures warehouse receipts: 5,564 tons, up 70 tons from the previous trading day; 21. Zinc futures warehouse receipts: 114,702 tons, up 195 tons from the previous trading day; 22. Gold futures warehouse receipts: 113,658 kg, unchanged from the previous trading day; 23. Natural rubber futures warehouse receipts: 144,800 tons, down 20 tons from the previous trading day; 24. Low-sulfur fuel oil warehouse futures warehouse receipts: 330 tons, unchanged from the previous trading day.

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

 image.png