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On June 25, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked about Chinas law enforcement patrols in the waters east of Taiwan. Spokesperson Guo stated that, according to Chinese domestic law and international law, including the United Nations Convention on the Law of the Sea, China possesses an exclusive economic zone and continental shelf in the waters east of Taiwan. The relevant Chinese departments law enforcement patrols in these waters are legitimate measures to exercise jurisdiction in accordance with the law, maintain regional stability and maritime order, and are also necessary actions against Japan and the Philippines manipulation of maritime boundary issues and infringement upon Chinas maritime rights and interests. Relevant countries should respect Chinas sovereignty, territorial integrity, and maritime rights and interests, stop confusing right and wrong and distorting the truth, and relevant institutions should not make statements inconsistent with their status. The DPP authorities turn a deaf ear and a blind eye to the infringements committed by Japan and the Philippines, but instead colluded with external forces to launch a massive attack and smear campaign against the central governments rights protection efforts, and clamored for the fallacy of "Taiwan independence." This once again exposes the DPP authorities stubborn "Taiwan independence" nature and their ugly face of betraying the overall interests of the Chinese nation, and will surely be spurned by compatriots on both sides of the Taiwan Strait and subject to historical reckoning.June 25th - According to US media reports, Swiss Federal President and Minister of Economic Affairs Guy Parmelin will visit the United States at the end of this month to meet with US Trade Representative Greer, aiming to finalize a broader trade agreement between the two countries amid renewed tariff pressure from Washington. Parmelins trip is scheduled from June 29th to July 9th, during which he will visit the United States, Canada, and Mexico. A statement from his ministry confirmed the meeting with Greer was planned, but did not specify a date. The statement also indicated that the trip is intended to "emphasize the win-win nature of the close economic ties between Switzerland and the United States."On June 25, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked about issues related to Honduras. Guo Jia-kun stated that China has noted the Honduran governments clarification of the lies told by the Taiwan authorities. This once again demonstrates that adhering to the one-China principle is a matter of international justice, the will of the people, and an irresistible trend. The "Taiwan independence" forces and the DPP authorities are going against the tide, are unpopular, and are doomed to failure. Since the establishment of diplomatic relations between China and Honduras, bilateral relations have developed rapidly on the basis of the one-China principle, and pragmatic cooperation in various fields has contributed to Honduras economic and social development. Facts fully prove that the establishment of diplomatic relations between China and Honduras is in the fundamental and long-term interests of both countries and their people. China is willing to promote the continuous development of China-Honduras relations on the basis of the one-China principle.Midday futures market summary for June 25: Weakness was concentrated in precious metals, chemicals, and the energy chain, with Shanghai silver leading the decline, falling by over 7%. Click to view.WTI and Brent crude oil prices are currently trading at around $70.42/barrel and $73.18/barrel respectively.

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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