EUR/USD 1.14715
0.435%
Gold 4986.45
-0.591%
Oil 96.693
0.234%
USD/JPY 159.259
-0.258%
GBP/USD 1.32677
0.311%
GBP/JPY 211.305
0.053%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 16, the Shanghai Headquarters of the Peoples Bank of China released a "Brief Report on Overseas Institutions Investment in the Interbank Bond Market in February 2026," showing that as of the end of February 2026, overseas institutions held RMB 3.32 trillion in interbank bonds, accounting for approximately 1.9% of the total custody volume of the interbank bond market. In terms of bond type, overseas institutions held RMB 2.00 trillion in government bonds (60.2%), RMB 0.78 trillion in policy bank bonds (23.5%), RMB 0.40 trillion in interbank certificates of deposit (12.0%), and RMB 0.14 trillion in other types of bonds (4.2%).Shell stated that despite increased oil price volatility caused by the Middle East conflict, it remains optimistic about the long-term prospects of liquefied natural gas.March 16th - Markets widely expect Federal Reserve officials to keep interest rates unchanged at this weeks meeting. Meanwhile, attention is also focused on how the Fed might respond if the consequences of the Middle East conflict contradict its policy objectives. Bank of America senior economist Aditya Bavi stated, "Currently, officials will likely indicate they remain in a wait-and-see mode as they closely monitor the rapidly evolving situation in the Middle East." Regarding the surge in oil prices, Bavi said, "They dont want to jump to conclusions. This is a supply shock. Supply shocks increase the execution risk of their mandate." In addition to the complex economic factors, this weeks Fed meeting is also overshadowed by a tense and high-impact political storm. Last week, a federal judge ruled to dismiss the Justice Departments subpoena against Powell, but US prosecutors vowed to continue their investigation into the Fed and its officials. This could disrupt the Feds expected leadership transition in May.A Reuters poll found that 14 out of 15 economists said the Swiss National Bank should increase its intervention in the foreign exchange market to curb the further strengthening of the Swiss franc against the euro.The United States and South Korea will hold talks this week on a $350 billion fund.

USD/CAD encounters resistance near 1.3580 as focus shifts to FOMC minutes

Daniel Rogers

Jan 03, 2023 15:20

 USD:CAD.png

 

After failing to surpass the immediate resistance level of 1.3580, the USD/CAD pair is exhibiting some volatility in the Tokyo morning session. The Canadian dollar is attracting bids due to a boost in investor risk appetite and a rise in oil prices.

 

As investors believe that the US Dollar Index will continue to underperform, risk-sensitive currencies are gaining traction. After giving up the crucial support level of 103.50, the USD Index saw a significant fall on Friday. In the interim, S&P500 futures have began trading on a positive note, signaling a reduction in risk.

 

This week, the Federal Open Market Committee (FOMC) report will be the focal point of attention. The minutes of the Federal Open Market Committee will explain why the Federal Reserve raised interest rates by 50 basis points (bps) in December's monetary policy meeting (Fed).

 

As they preview this week's US events, TD Securities analysts believe that the FOMC's December policy meeting minutes will shed fresh light on the Fed's policy outlook for 2023. According to analysts at TD Securities, by the time of the FOMC meeting in May, the terminal rate will be between 5.25 and 5.50 percent.

 

Investors will eagerly scrutinize the Canadian employment data that will be released on Friday. Analysts at TD Securities expect an 8,000 gain in employment in December as the labor market begins to deteriorate. The unemployment rate may decline to 5.2%, and the annual wage range may rise to 5.5%. A rise in pay growth may keep inflation at elevated levels.

 

In the interim, the price of oil has risen to over $80.50 per barrel as investors anticipate a drop in Covid-19 cases in China, which will restore economic development. Notably, Canada is the United States' leading oil exporter, and higher oil prices strengthen the Canadian Dollar.


Suggestion