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On April 16, the Russian Ministry of Defense released a daily combat report stating that, in response to the Ukrainian militarys terrorist attacks on civilian facilities within Russia, the Russian military launched a large-scale strike in the past 24 hours using land-based, air-based, and sea-based long-range high-precision weapons and attack drones against Ukrainian defense industrial complex facilities used for the production of cruise missiles and medium- and long-range drones, as well as fuel and energy complex facilities serving the Ukrainian military. In addition, the Russian military also struck a total of 154 areas, including container terminals, armored vehicle storage yards, ground robotic system testing grounds, and temporary deployment points of Ukrainian armed forces and foreign mercenaries. Russian air defense systems shot down 5 guided-missile bombs and 270 fixed-wing drones. The Ukrainian military suffered approximately 1,055 casualties across various operational fronts.A spokesperson for the European Commission said that easing any sanctions on Russia would not help.On April 16th, the newly established National Automotive Standardization Technical Committee was in Beijing. A relevant official from the Ministry of Industry and Information Technology stated that during the 15th Five-Year Plan period, my country will accelerate the development of key core standards for the automotive industry, fully leveraging the guiding role of standards. Furthermore, during the 15th Five-Year Plan period, the guiding role of automotive standards will also contribute to improving product quality. This includes accelerating the formulation and revision of standards for automotive extreme environment adaptability, power battery cycle life, new energy vehicle energy consumption limits, and electromagnetic environment adaptability. Moreover, standards will guide the innovative application of key technologies. This includes accelerating the construction of standard systems in cutting-edge fields such as solid-state batteries and automotive artificial intelligence, and promoting the formulation and revision of standards for megawatt-level charging, intelligent chassis, and large-angle automotive seats.On April 16th, the Nikkei reported on April 15th that Tesla revealed on the 14th that it is considering producing humanoid robots at its Shanghai Gigafactory. The Shanghai factory has been producing electric vehicles since 2019 and will begin producing large-scale energy storage batteries in 2025. This plan to further expand manufacturing to humanoid robots aims to maintain its growth momentum in the Chinese market. Wang Hao, Vice President of Tesla and President of Tesla China, stated on the 14th that with the arrival of the robotics era, the Shanghai Gigafactory, like other Tesla factories, will shoulder an extremely important role as a production base, making significant contributions in areas such as robotics. The report stated that Tesla has not yet released details regarding the specific timing and scale of production. However, according to reports from some Chinese securities companies, its goal is to achieve an annual production capacity of 100,000 units by the end of 2026.The governor of the Polish central bank stated that the likelihood of further interest rate cuts has decreased due to the risk of an energy shock. The probability of holding rates steady or raising them is greater than cutting them.

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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