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On January 17, SpaceX said that the starship experienced a rapid unplanned disintegration during the launch burn. The team will continue to review the data from todays flight test to better understand the root cause. This flight test will help us improve the reliability of the starship.Futures News on January 17, according to the latest data from the U.S. Commodity Futures Trading Commission (CFTC), as of January 10, ① there were 47,356 unpriced sell orders for U.S. cotton on-call, a decrease of 1,694 lots from the previous month; there were 85,069 unpriced buy orders, an increase of 1,514 lots from the previous month; ② there were 14,122 unpriced contracts on the ICE Cotton 2503 contract, a decrease of 2,245 lots from the previous week; ③ there were 11,738 unpriced contracts on the ICE Cotton 2505 contract, an increase of 121 lots from the previous week; ④ there were 13,032 unpriced contracts on the ICE Cotton 2507 contract, a decrease of 305 lots from the previous week; ⑤ there were 0 unpriced contracts on the ICE Cotton 2510 contract, the same as the previous week; ⑥ there were 5,234 unpriced contracts on the ICE Cotton 2512 contract, an increase of 458 lots from the previous week.On January 17, SpaceXs new generation heavy-lift rocket "Starship" was launched from Texas, the United States on the 16th, carrying out its seventh test flight. Shortly after the launch, the second-stage spacecraft of the rocket lost contact with the ground team. The live broadcast of SpaceX showed that after the launch, the first-stage booster of the rocket was once again recovered from the launch tower. When landing, it was "clamped" by the mechanical arm on the launch tower and "captured" and recovered in mid-air. However, the second-stage spacecraft of the rocket subsequently lost contact with the ground team, and the live broadcast of the spacecraft was interrupted.SpaceX lost contact with Starship.SpaceX Starship conducted its seventh test flight and ignited and launched.

As the Fed confirms the disinflationary process, the USD/CAD exchange rate may fall to 1.3250

Alina Haynes

Feb 02, 2023 16:05

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The USD/CAD pair resumed its two-day losing run after slipping below 1.3270 in Asia. Following two days of declining US inflation, the Canadian dollar fell on Wednesday.

 

The US Manufacturing PMI (Jan) dropped for a third consecutive month to 47.4, below the consensus estimate of 48.0 and the prior reading of 48.4. The Index of New Orders for Manufactured Goods, which indicates future demand, decreased to 42.5 from 46.1 and 45.1. Fed Chairman Jerome Powell stated in his comments that consumer spending has slowed significantly and that the central bank will now focus on labor cost balance. The US Employment Cost Index (Q4) fell by 1%.

 

The US Consumer Price Index (CPI) and Producer Price Index (PPI) have decreased for three consecutive months, while economic activity and consumer spending have slowed, signaling deflation. Powell stated, "Can now for the first time announce, 'The disinflationary process has begun.'"

 

The market participants' risk appetite has raised the demand for risky assets. After a solid performance on Wednesday, S&P500 futures increased in the Asian morning. The US Dollar Index (DXY) found limits following a decline to about 100.80 amid risk-on market mood. The yield on 10-year US Treasuries has surpassed 3.41 percent.

 

Monthly GDP (Nov) data for the Canadian dollar were 0.1%, above the consensus forecast of flat. Since the Bank of Canada (BoC) ceased policy tightening after increasing interest rates to 4.50 percent, the Canadian economy has not declined on a monthly basis.

 

After plunging to nearly $76, the price of oil is recovering. Black gold dipped on Wednesday after the US Energy Information Administration (EIA) reported 4.14 million oil inventories for the week ending January 27. Because Canada is a major oil exporter to the United States, lower oil prices influence the Canadian Dollar.


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