EUR/USD 1.16191
0.091%
Gold 5133.86
1.019%
Oil 78.415
0.863%
USD/JPY 157.509
-0.025%
GBP/USD 1.33707
0.099%
GBP/JPY 210.604
0.089%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
OpenAI will lend funds obtained from Nvidia (NVDA.O) and Amazon (AMZN.O) revolving financing to SoftBank.On March 6th, Gong Zheng, Deputy Secretary of the Shanghai Municipal Party Committee and Mayor of Shanghai, stated that Shanghai must focus on promoting high-quality development, be pragmatic and diligent, and ensure a good start to the 15th Five-Year Plan. First, it is crucial to expand domestic demand, which is the strategic support for Shanghais high-quality development. Shanghai must strengthen the leading role of domestic demand, strive to achieve effective qualitative improvement and reasonable quantitative growth in the economy, and play a leading role in national development. Consumption is a lasting driving force for economic growth. Shanghai must thoroughly implement special actions to boost consumption, accelerate the construction of an international consumption center city, accelerate the expansion and upgrading of commodity consumption, actively create new service consumption scenarios, and continuously amplify the integration effect of culture, commerce, tourism, sports, and exhibitions. Expanding effective investment is an important means to stabilize growth and promote development. Shanghai must promote the high-quality development of key infrastructure projects, further stimulate private investment, and direct investment towards technological innovation, industrial upgrading, urban renewal, and peoples livelihood.According to Iranian media, a missile attack struck two military bases near the city of Khomeini.On March 6th, Phil Flynn, senior analyst at Price Futures Group, stated that the U.S. Treasury Department may be looking to utilize the oil futures market to address soaring oil prices. This is a novel and innovative move, abandoning the traditional approach of using physical crude oil to alleviate market concerns. Instead, it utilizes futures instruments to sell near-month crude oil futures contracts and purchase forward futures contracts. The Treasury Departments traditional functions primarily involve fiscal policy, debt management, and occasional intervention in the currency market through mechanisms such as the Exchange Stabilization Fund, but not intervention in commodities such as oil.Fitch upgraded Hutchison Whampoas rating to "A"; outlook stable.

USD/CAD slips below 1.2870 as the DXY struggles above 104.000 and oil prices reach $110,000

Daniel Rogers

Jun 28, 2022 14:13

 截屏2022-06-28 上午10.15.54.png

 

After falling below the critical support level of 1.2870, the USD/CAD pair has declined to about 1.2860. As oil prices have extended their recovery and are currently trading over the psychological resistance of $110.00, it is expected that the asset will continue its losses and finish below 1.2860.

 

Notable is the fact that Canada is the United States' largest oil exporter. Therefore, higher oil prices lead to greater cash flows into Canada. Instead of focusing on advanced recession concerns, investors have decided to support current supply constraints, resulting in a strong oil price recovery.

 

After Western leaders banned Russian oil imports, the OPEC cartel is attempting to settle supply issues. Saudi Arabia and the United Arab Emirates (UAE) are the only OPEC members able to considerably expand the global oil supply. Both countries are seeing high prices and ample supply.

 

In the meanwhile, the US dollar index (DXY) fails to firmly above the 104.00 round-level barrier. As rapidly as the Federal Reserve (Fed) raises interest rates, concerns of a recession intensify. In its monetary policy statement for July, the Fed will certainly hike interest rates to at least 2 percent. A two percent interest rate is sufficient to restrict market liquidity in the United States. This will force the corporate sector to prioritize very selected investment projects, resulting in an extended drop in labor demand.


Suggestion