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According to official Colombian statistics, the death toll from the earthquake has risen to 304.August 19th - According to sources, with a new round of tariffs set to take effect on Wednesday, the Trump administration is lowering expectations for a last-minute agreement between the US and Canada to avoid additional tariffs. Sources indicate that the US is privately signaling a "50/50 or lower" chance of reaching an agreement on Tuesday. Both sides are facing a midnight deadline, at which point billions of dollars worth of Canadian goods will face 50% tariffs. It remains unclear whether these signals truly reflect progress in negotiations or are simply the US trying to increase its bargaining leverage. Trump has a history of making demands of trading partners at the last minute. Sources say Trump is expected to speak with Canadian Prime Minister Carney again on Tuesday. The two also spoke by phone on Monday.Sources familiar with the matter revealed that the US has reportedly lowered its expectations for reaching a US-Canada trade agreement on Tuesday. US President Trump and Canadian Prime Minister Carney are expected to speak again on Tuesday local time.On August 19, Rezaei, Secretary of Irans Supreme National Security Council, stated that Washingtons inability to reopen the Strait of Hormuz exposes the gap between the USs claimed control and its actual capabilities, marking the beginning of a "post-American order" in the Persian Gulf. Rezaei wrote, "The gap between the USs inability to reopen the Strait of Hormuz, yet its claim to control it, is greater than the 7,000-mile distance between Washington and the Strait of Hormuz." He added, "Welcome to the post-American order in the Persian Gulf." "Some dreams are too far removed from reality." This followed a post by US President Trump showing a map labeling the Strait of Hormuz as "new US territory."August 19th - Wildfires broke out in eastern Belgium on August 14th. The Liège provincial governors office reported on the 18th that the fires are now under initial control, with approximately 3,000 hectares burned. Because the nature reserve where the fires occurred contains peat wetlands, smoldering underground fires may continue. Firefighters have strengthened their surface firefighting efforts.

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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