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The main contract for the container shipping index (European route) fell by more than 9.00% during the day, and is currently trading at 1634.0 points.The main Shanghai gold futures contract rose by 2.00% intraday, currently trading at 900.80 yuan/gram.On August 5th, an official from the Accounting Department of the Ministry of Finance answered reporters questions regarding the revision and issuance of the "Accounting Standard for Business Enterprises No. 30—Presentation of Financial Statements." This revision focuses on optimizing and improving the presentation and disclosure of financial statements, and does not involve adjustments to accounting recognition and measurement requirements. The core revisions include optimizing the structure of the income statement. Current profit and loss in the income statement are now divided into five categories: operating, investing, financing, income tax expense, and discontinued operations. New aggregate items such as "Operating Profit," "Operating and Investing Profit," and "Profit from Continuing Operations" have been added to more clearly and effectively distinguish the sources of corporate profits, analyze corporate financial performance, and improve the usefulness and structure of accounting information. For enterprises engaged in specific principal business activities, profits and losses classified as investing or financing by general enterprises should be included in the operating category to fully reflect the characteristics of their main business.On August 5th, local time, the Security Service of Ukraine (SBU) announced on its website on August 4th that it had struck more than 100 strategic targets in Russia over the past 40 days. The SBU stated that the targets primarily included Russian military-industrial enterprises, air force bases, air defense systems, command posts, ships, "Shadow Fleet" oil tankers, oil refineries, and military logistics facilities, causing significant damage to Russian military equipment and numerous military infrastructure sites. The SBU also stated that it had attacked six military airfields, including Saki, the Guards Village, and Engels, as well as the Yevpatoria Aviation Plant. Several Russian oil refineries, oil depots, oil pumping stations, and oil terminals were also targeted. The SBU added that it will continue its efforts to weaken Russias military and economic potential. Russia has not yet responded to these claims.August 5th - According to South Korean media reports, a forecast indicates that South Korea will maintain its leading position in the global memory chip market until 2031, thanks to significant investments from companies like Samsung Electronics and SK Hynix. However, demand for high-bandwidth memory (HBM) is expected to rapidly expand from Nvidias graphics processing units (GPUs) to AI accelerators developed by large tech companies like Google. Josephine Lou, an industry analyst at the French market research firm Yole Group, stated at the 2026 Future Memory & Storage Conference in California on August 4th that South Korea will maintain its leading position in the memory industry until 2031. Lou pointed out that South Korea plans to double its wafer capacity within the next five years, and Samsung Electronics and SK Hynix have also increased their investments. Analysts indicate that as Samsung Electronics and SK Hynix simultaneously expand their next-generation DRAM (including HBM) and NAND production capacity and technology development, South Koreas advantage will continue.

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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