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On September 13, the Islamic Republic News Agency (IRNA) reported, citing local Iranian officials, that an Iranian container ship was attacked by an unidentified projectile in the waters near the Strait of Hormuz, resulting in one death and four injuries.On September 13th, market observers stated that Anthropic executives call to slow down technological development could drag down chipmaker and supply chain stocks in the short term, but the long-term impact is likely to be limited as spending on computing infrastructure remains strong. Semiconductor manufacturers and other AI-related stocks are likely to be hit hardest in Mondays initial sell-off as investors assess whether a more cautious approach to developing advanced models will dampen earnings. However, given that demand for chips, energy, and computing power continues to outpace supply, any weakness is likely to be temporary. Investors, including Gary Tan, portfolio manager at Singapore-based Allspring Global Investments, are skeptical about a lasting impact on the industry. "This could create some short-term pressure, but its unlikely to derail the long-term AI deal. AI development is still in its relatively early stages, and Im not sure if the rest of the ecosystem is willing to accept the current hierarchy and slow down while the technology is still evolving so rapidly," he said.On September 13th, Ukrainian President Volodymyr Zelenskyy posted on social media that Russia had launched approximately 2,100 drones (many of which were Shahed drones) at Ukraine this week alone. In addition, Russia used nearly 1,700 glide bombs and 78 rockets of various types in an attempt to paralyze the Ukrainian economy and disrupt peoples lives. This night and this morning, energy, Ukrainian railways, businesses, and ordinary residences were attacked. The Russian military attacked Odessa with rockets and drones. Recovery work is still underway in many western regions following the nights attacks.On September 13, Russian State Atomic Energy Corporation (Rosatoburo) CEO Likhachev stated that Ukrainian forces deliberately attacked a convoy of oil tankers carrying diesel fuel for the Zaporizhia nuclear power plant at 2:28 PM on September 11. The attack resulted in the deaths of two Russian soldiers and injuries to several others. Likhachev said that Ukraines deliberate provocation regarding the nuclear power plant has unpredictable consequences. Ukraine has not yet responded.The U.S. National Hurricane Center reports that Norbert has strengthened slightly and is expected to dissipate east of Hawaii by mid-next week.

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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