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U.S. Energy Secretary Wright: Oil prices will fall if the war with Iran ends in five days.The SC crude oil futures contract plunged 10.00% intraday, currently trading at 721.80 yuan per barrel.On March 23, according to Axios, US President Trump told reporters that his special envoys had met with a senior Iranian leader and claimed that the two sides had reached an agreement on many issues. Iran denied having held such talks, claiming that Trumps move was merely aimed at stabilizing the energy market. An Israeli official told Axios that US envoys Witkov and Kushner had spoken with Iranian Parliament Speaker Ghalibaf. However, Trump did not reveal the identity of his Iranian counterpart, saying he did not want them to be killed, but he stated that the US and Iran were aligned on many key issues. Notably, Trump said, "I think the person were facing is the most respected person right now, but not the Supreme Leader, and we havent received a message from him yet." Trump indicated that the two sides would continue their talks by phone on Monday, followed by a possible face-to-face meeting. Israeli officials revealed that the mediators are attempting to convene a meeting in Islamabad—with Ghalibaf and other officials representing Tehran, and Witkov, Kushner, and possibly Vice President Vance representing the US—which could take place later this week. The official also stated that Israel was aware of the indirect communication between the US and Tehran, but was surprised by Trumps remarks on Monday. "We didnt know things were progressing so quickly."The Eurozones preliminary consumer confidence index for March was -16.3, compared to a forecast of -14.4 and a previous reading of -12.2.U.S. Energy Secretary Wright: There are several other measures that can be used to lower gasoline prices.

As the DXY looks for a correction, the USD/CHF is falling toward 0.9660

Daniel Rogers

Aug 30, 2022 11:56

 截屏2022-08-30 上午10.07.58.png

 

Breaking below the restricted consolidation zone between 0.9678 and 0.9682, the USD/CHF pair is heading lower. Depletion warnings were seen in the asset before, when it failed to rise beyond the key level of 0.9700. The US dollar index (DXY) has entered a corrective phase following a prolonged upswing, and the major currency has lacked the necessary conviction to rise over the key 0.9700 level.

 

After a rapid gain, investors opted to liquidate their long positions, sending the DXY down to around 108.68 at the open. In spite of Federal Reserve (Fed) chairman Jerome Powell's harsh comments at the Jackson Hole Economic Symposium, the asset continued its upward trend. The market was shaken by news that the Fed would prioritize slowing inflation over boosting economic growth.

 

A conservative approach to interest rates to moderate down inflation, which is eroding household earnings in the U.S. economy, is entirely acceptable from the perspective of households. Inflation in the United States is skyrocketing, so Fed policymakers can't afford to rest easy even if they show signs of fatigue.

 

Real Retail Sales is the only piece of data that matters to investors in the Swiss franc right now, and experts estimate that it will rise to 3.3% from 1.2%. Investors are aware of rising price pressures in the Swiss economy, which has a negative impact on retail sales figures. Despite this, there has been a noticeable increase in overall demand, which is reflected in the latest economic figures.


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