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The Eurozones seasonally adjusted trade balance for June, the final reading of seasonally adjusted employment for the second quarter, and the revised annual GDP growth rate will be released in ten minutes.August 14th - According to reports, the buyer of Alibabas Lingxi Interactive Entertainment has been confirmed as Trustar Capital, a subsidiary of CITIC Capital, with the sale price expected to exceed 1.5 billion yuan (approximately 10.1 billion yuan).On August 14th, the Hong Kong government announced on Friday that it has revised its 2026 GDP growth forecast upward to 3.5-4.5%, from the previous forecast of 2.5-3.5%. Hong Kong government economic advisor, Fan Wan-er, stated that Hong Kongs economy should see robust growth in the second half of this year. Strong global demand for AI-related electronic products is expected to continue supporting Hong Kongs merchandise trade performance, and related logistics services should also benefit from this positive momentum. The revised figures released today show that Hong Kongs second-quarter GDP grew by 4.3% year-on-year, but fell by 0.6% quarter-on-quarter, consistent with previous estimates.On August 14th, the Shanghai Futures Exchange (SHFE) reported the following warehouse receipts and changes: 1. Natural rubber futures warehouse receipts: 147,480 tons, a decrease of 260 tons from the previous trading day; 2. International copper futures warehouse receipts: 6,375 tons, an increase of 549 tons from the previous trading day; 3. Silver futures warehouse receipts: 1,334,644 kg, an increase of 21,380 kg from the previous trading day; 4. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 5. Alumina futures warehouse receipts: 271,490 tons, a decrease of 1,794 tons from the previous trading day; 6. Stainless steel warehouse futures warehouse receipts: 85,199 tons, a decrease of 726 tons from the previous trading day; 7. Rebar warehouse futures warehouse receipts: 34,417 tons, unchanged from the previous trading day; 8. Lead futures warehouse receipts: 65,864 tons, an increase of 173 tons from the previous trading day; 9. Nickel futures warehouse receipts totaled 101,387 tons, an increase of 588 tons from the previous trading day; 10. Pulp warehouse futures warehouse receipts totaled 370,235 tons, an increase of 1,004 tons from the previous trading day; 11. Pulp mill warehouse futures warehouse receipts totaled 20,000 tons, unchanged from the previous trading day; 12. Tin futures warehouse receipts totaled 5,452 tons, an increase of 324 tons from the previous trading day; 13. Petroleum asphalt mill warehouse futures warehouse receipts totaled 26,500 tons, an increase of 7,510 tons from the previous trading day; 14. Petroleum asphalt warehouse futures warehouse receipts totaled 15,550 tons, an increase of 2,290 tons from the previous trading day; 15. Hot-rolled coil futures warehouse receipts totaled 240,397 tons, a decrease of 11,182 tons from the previous trading day; 16. Butadiene rubber futures warehouse receipts totaled 23,610 tons, a decrease of 230 tons from the previous trading day; 17. Gold futures warehouse receipts were 113,676 kg, unchanged from the previous trading day; copper futures warehouse receipts were 33,676 tons, an increase of 6,468 tons from the previous trading day; zinc futures warehouse receipts were 113,466 tons, an increase of 506 tons from the previous trading day; fuel oil futures warehouse receipts were 35,420 tons, unchanged from the previous trading day; aluminum futures warehouse receipts were 297,843 tons, a decrease of 2,227 tons from the previous trading day; low-sulfur fuel oil warehouse futures warehouse receipts were 330 tons, unchanged from the previous trading day; and TSR20 rubber futures warehouse receipts were 15,624 tons, a decrease of 1,008 tons from the previous trading day.Indonesian President: We must stop unilaterally purchasing similar goods and maintain fiscal discipline.

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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