EUR/USD 1.17248
0.035%
Gold 4709.64
-0.645%
Oil 94.300
3.305%
USD/JPY 159.321
0.009%
GBP/USD 1.35358
0.018%
GBP/JPY 215.658
-0.035%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 27th, Barclays analysts stated in a report that with inflation remaining high, the Federal Reserve is expected to keep the target range for the federal funds rate unchanged at its meeting this week, but a rate cut is still possible this year. The analysts said, "In a highly uncertain environment, the Fed tends to remain on hold. Strong demand and still relatively high inflation support its patience, and policymakers have also signaled a diminishing confidence in further rate cuts in the near term." The analysts indicated that if inflation falls as expected, the Fed is expected to gain sufficient confidence to begin easing policy around September. "We still expect it to cut rates this year." According to LSEG data, the money market currently prices in a 10 basis point rate cut by the Fed in 2026.The Philippine Department of Energy announced that the United States has approved an extension of the exemption period for the Philippines to purchase Russian oil and petroleum products.Toyota Motor Corp. reported a sales decline in March as demand for its best-selling RAV4 model weakened ahead of a facelift, while the conflict in Iran threatened to cut off key supplies, forcing the manufacturer to potentially reduce production. The company said Monday that global sales (including those of its subsidiaries Daihatsu and Hino) fell 5.8% year-on-year to 983,126 vehicles in March, while global production rose 3.9% to 1.02 million vehicles. These figures suggest that the worlds largest automaker is managing to stay afloat despite rising prices for raw materials such as aluminum and the base cost of auto parts due to the turmoil in the Middle East. Suppliers are preparing for shortages that could last for months, even if the Strait of Hormuz reopens and shipping returns to normal. Refineries need time to resume operations, and shipping companies need to digest the congestion caused by hundreds of ships stranded in the Persian Gulf. Major supplier Denso Corp. said in March that the ongoing conflict had reduced Japans monthly auto production by approximately 20,000 vehicles.Japans leading economic indicators for February came in at 1.3% month-on-month, compared with 0.3% previously.Japans leading indicator final reading for February was 113.3, compared to 112.4 in the previous month.

The USD/CHF Currency Pair Trades Near 0.9720 as Investors Await the SNB's Jordan Speech

Alina Haynes

Apr 29, 2022 09:44

The USD/CHF pair demonstrated a back and forth movement during the Asian session. The asset is consolidating in a six-pip range ahead of the Swiss National Bank's (SNB) Thomas J. Jordan's Friday address.

 

Jordan's remarks will likely dictate the SNB's monetary policy action in June. For an extended period, the SNB has maintained an ultra-loose monetary policy. However, investors may be surprised this time around as SNB policymakers may sound a little more hawkish. The Swiss Consumer Price Index (CPI) has surpassed the 13-year high of 2.2 percent, significantly exceeding the planned inflation rate of 2%. Although the announcement will take a neutral posture, guidance may be quite aggressive.

 

Meanwhile, the US dollar index (DXY) is undergoing a temporary correction following a stronger upward trajectory. The DXY is currently stabilizing at 103.65 and is looking for a trigger to move higher. The uncertainty surrounding the Federal Reserve's (Fed) announcement of an interest rate decision next week will govern future prices. Investors should brace themselves for a big rate hike, as the Federal Reserve is wary about escalating inflation. Today's session will be dominated by the Michigan Consumer Sentiment Index (CSI), which is expected to come in at 62 points, down from the prior reading of 65.7 points.

USD/CHF

image.png 


Suggestion