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April 14th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices have continued to decline in recent intraday trading, having failed to break through the 50-day EMA, which acted as resistance, hindering further price increases and ending the previous rally. The price retreated below the key resistance level of $95.00, reflecting weakening bullish momentum. Current price action suggests that the market is in a corrective downward wave in the short term, while the Relative Strength Index (RSI), after previously reaching overbought levels, continues to release negative signals. These factors collectively increase the likelihood of continued downward pressure on WTI crude oil futures in the short term.April 14th, Futures News: Economies.com analysts latest view: Brent crude oil futures stabilized during the intraday trading session after recent consecutive declines, touching the key support level of $93.50. This support provided some short-term positive momentum, helping to alleviate recent selling pressure. Currently, the price is attempting to correct the clearly oversold condition on the Relative Strength Index (RSI), with initial signs of a potential bullish crossover. However, the short-term corrective downward trend remains dominant, and the price continues to trade below the 50-day EMA, keeping bearish pressure in place.April 14th - According to the Beijing Municipal Ecology and Environment Bureau, significant progress has been made in the green and low-carbon transformation of key sectors in Beijing during the 14th Five-Year Plan period. Total carbon emissions have remained stable with a slight decrease, successfully achieving the 14th Five-Year Plan target for reducing carbon emission intensity. Carbon dioxide emissions per unit of GDP remain among the highest in the country. The cumulative trading volume of Beijings carbon market exceeds 64 million tons, with a transaction value of 3.7 billion yuan.On April 14th, the National Healthcare Security Administration announced that it has launched a nationwide self-inspection and rectification campaign for designated medical institutions regarding illegal and irregular use of medical insurance funds in 2026. Building upon the previous focus on nine key areas—cardiovascular medicine, orthopedics, blood purification, rehabilitation, medical imaging, clinical laboratory medicine, oncology, anesthesiology, and critical care medicine—this years campaign further expands to include stomatology, endocrinology, and psychiatry. Local healthcare security departments are conducting self-inspections based on this framework, ensuring comprehensive coverage and leaving no blind spots.On April 14th, Japanese Economy, Trade and Industry Minister Ryosuke Akazawa faced criticism for his comments regarding monetary policy. Finance Minister Satsuki Katayama stated that Prime Minister Sanae Takaichi had warned him against discussing such topics in the future. Katayama said on Tuesday that she and Takaichi had reminded Akazawa at a meeting that day not to comment further on monetary policy. Akazawa had stated on a Sunday television program that using monetary policy to correct the yens weakness was one feasible solution to curb rising import prices.

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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