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On September 11, Foreign Ministry Spokesperson Mao Ning stated at a regular press conference that China has lodged a strong protest with Italy and the European Union regarding the attendance of "Taiwan independence" politicians at relevant meetings in Italy. The DPP authorities and certain politicians are racking their brains to gain attention everywhere, using the guise of "democracy" and "freedom" to "seek independence through foreign connections." Such behavior is despicable and ultimately futile. Mao Ning said that there is only one China in the world, and Taiwan is an inseparable part of Chinas territory. China has consistently and firmly opposed any form of official exchanges between countries that have diplomatic relations with China and Taiwan. The one-China principle is a universally recognized norm of international relations and a general consensus of the international community, as well as the political foundation of China-Italy relations and China-EU relations. We urge relevant parties to uphold the one-China principle with concrete actions.Swedens chief information defense official said Russia poses a threat to elections in Europes largest democracy and called on social media platforms to step up their efforts to combat Moscows botnets.September 11 – On September 11, Foreign Ministry Spokesperson Mao Ning held a regular press conference. A reporter asked about Chinas announcement of raising visa fees for Japanese citizens traveling to China, and what the Foreign Ministrys comment was on this. Mao Ning stated that the Chinese Embassy in Japan had already issued a notice, and this adjustment was made based on the principle of reciprocity.On September 11th, according to the latest data from QUICK FactSet, a global economic research and analysis platform, Changxin Memorys EBIT margin reached 82% in the second quarter of 2026, surpassing SK Hynix (76%) and Samsung Electronics semiconductor business (70%) to become the worlds most profitable memory chip manufacturer. During the same period, Changxin Memorys revenue increased approximately tenfold year-on-year, the highest growth rate among six companies: Changxin Memory, Samsung, SK Hynix, Micron, Kioxia, and SanDisk. Analysts believe that Changxin Memorys increased profit margin is closely related to the current changes in memory chip supply and demand. As Samsung, SK Hynix, and Micron invest more resources in high-bandwidth memory for AI servers, the supply of ordinary DRAM has tightened, leading to a significant increase in DDR5 prices, from which Changxin Memory has benefited.UBS: We expect the European Central Bank to raise interest rates by another 25 basis points in December 2026, and then pause.

USD/CAD Trades at a Flat Level Following Volatile Trading and Rising US Treasury Yields

Drake Hampton

Apr 06, 2022 10:16

Insights

  • The dollar fell as additional penalties against Russia weighed on the Loonie.

  • Benchmark rates increased as the Federal Reserve pursued a more aggressive rate hike strategy.

  • Due to the new penalties, gold and silver prices remained rather stable.

  • As European countries ponder further measures, oil prices continue to rise.

 

Despite a volatile trading session, the dollar maintained its strength as higher oil prices bolstered the commodity-linked Loonie. The yield on ten-year government bonds increased to 2.56 percent, the highest level since May 2019. Benchmark rates increased several basis points following Fed Governor Brainard's statement that the Fed must pursue a more aggressive stance to contain inflation. Commodity-linked currencies such as the Loonie increased in value as a result of higher oil prices and good economic indicators. New sanctions against Russia continue to benefit silver and gold prices. On the potential of fresh Russian sanctions, oil prices continued to increase. Investors are awaiting the release of the minutes from the most recent FMOC meeting on Wednesday.

 

Today, the US released its February trade balance. Actual balance of -$89.2 billion was lower than predicted at -$88.5 billion. The reading stayed relatively stable compared to the previous month, indicating a record deficiency. Exports increased by 1.8%, while imports jumped by 1.3 percent. In the following months, the Russia-Ukraine war may limit demand for US exports.

Technical Evaluation

The USD/CAD exchange rate remained unchanged following a recovery from the downward pressure caused by increased oil prices, which supported the Loonie. However, losses should be contained as a result of the Fed's more aggressive rate hikes. The pair remains below the key level of 1.25 and may be driven lower as additional penalties against Russia increase. Resistance is located near the 10-day moving average, which is now at 1.25. Near today's lows near 1.24, support is seen. A break below support would reveal the daily low of 1.2387 from November 10th, signaling further downward pressure. The short-term momentum shifted to the upside when the fast stochastic crossed above the buy signal.

 

Although the MACD line generated a crossover sell signal, the medium-term momentum is negative but favorable. When the MACD line (the 12-day moving average minus the 26-day moving average) passes the MACD signal line, this scenario occurs (the 9-day moving average of the MACD line).

 

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