IRAN: Al Arabiya Sources: Iran Did Not Reject Nor Definitively Agree To Proposal
@AlArabiya "Journalist Abdullah Khalouf: Pakistani sources confirm that Iran did not reject the 14-p...
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USDCAD TECHS: Bullish MA Set-Up Highlights Dominant Uptrend
- RES 4: 1.4051 High Nov 28
- RES 3: 1.4015 High Dec 2 ‘25
- RES 2: 1.3985 76.4% retracement of the Nov 5 ‘25 - Jan 30 bear leg
- RES 1: 1.3967 High Mar 31
- PRICE: 1.3921 @ 07:59 BST Apr 7
- SUP 1: 1.3815 20-day EMA
- SUP 2: 1.3760 50-day EMA
- SUP 3: 1.3670 Low Mar 23 and a key short-term support
- SUP 4: 1.3526 Low Mar 09
A bull cycle in USDCAD remains intact and the pair is trading closer to its recent highs. An important resistance at 1.3929, the Jan 16 high, has been pierced. A clear break of this hurdle would strengthen the bullish condition and open 1.3985, a Fibonacci retracement. Note that moving average studies are in a bull-mode position, highlighting a dominant bull cycle. Initial firm support lies at 1.3670, the Mar 23 low.
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SWEDEN: Rise In PMI Input Prices Underscore Need For Vigilance
"*SWEDEN MARCH SWEDBANK SERVICES PMI 55.7" Bloomberg
"*SWEDEN MARCH SWEDBANK COMPOSITE PMI 55.9" Bloomberg
Solid rebound in the Swedish March services PMI, with the index returning to expansionary territory after a disappointing February (55.7 vs 48.7 prior). The input price sub-index rose to 67.8 – the highest since August 2023. This follows a similar rise in the manufacturing PMI’s prices sub-index last week.
The increase in input prices underscores the Riksbank’s vigilant stance around second round/indirect inflation risks, but the Board will likely require corroboration from the Economic Tendency Indicator later this month before deciding whether to hike in May. As noted earlier, the Swedish economy’s starting point may argue in favour of a less aggressive overall tightening cycle relative to peers.
