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On September 11, it was reported that, to strengthen the source governance of portable power bank products, the State Administration for Market Regulation revised and released a new version of the "Implementation Rules for Compulsory Product Certification: Portable Power Banks, Lithium-ion Batteries, and Battery Packs" on May 25. Recently, relevant certification bodies have issued the first batch of 32 3C certification certificates in accordance with the new implementation rules.Tip: US President Trump concludes his speech at the Republican National Convention.US President Trump: We control the Strait of Hormuz, which I call the "Trump Strait".US President Trump: We have taken over Venezuela’s oil – 65 billion barrels of oil.September 11 - A Reuters poll indicates that the impact of Middle East conflict on rising oil prices is being offset by government subsidies, and Japans core inflation rate is expected to remain stable in August. Japans national CPI is projected to rise 1.8% year-on-year in August, while core CPI is expected to remain flat compared to July, still below the Bank of Japans 2% inflation target. Ryohei Ikeda, an analyst at Mizuho Research Institute, stated that rising crude oil and naphtha prices are increasingly being passed on to consumer prices, especially for daily necessities, which will push up inflation. However, subsidies for electricity and gas bills will act as a factor in suppressing inflation. Japans Ministry of Internal Affairs and Communications will release CPI data on Friday, September 18, and the Bank of Japan will announce its interest rate decision a few hours later.

USD/CHF Consolidates Around 0.9040 As Attention Shifts To US Inflation

Daniel Rogers

Apr 10, 2023 14:27

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The USD/CHF pair continues to trade lacklusterly above the crucial support level of 0.9036 in the early Tokyo session. Investors are shifting their focus to Wednesday's release of United States Consumer Price Index (CPI) data, making it difficult for the Swiss Franc to gain traction.

 

As tensions between China and Taiwan escalate, S&P500 futures have pared some of their gains. The market's anxiety has been alleviated by the increasing intensity of Chinese military exercises around Taiwan Island. In addition, concerns of a recession are likely to cause volatility in US equities.

 

Jamie Dimon, CEO of JPMorgan Chase, stated in an interview with CNN that the recent banking turmoil caused by the dissolution of Silicon Valley Bank (SVB) and Signature Bank has increased the likelihood of a recession in the United States.  Despite the robustness and security of the banking system, the recent turmoil in the financial system is "another weight on the scale" toward recession, he added.

 

The US Dollar Index (DXY) is protecting the 102.00 support level ahead of US Consumer Price Index (CPI) data. According to the consensus, headline inflation will fall from 6.0% to 5.2%. In addition, the headline monthly CPI would decelerate to 0.3% from 0.4% previously reported. As a consequence of oil prices remaining low in March, inflationary pressures are anticipated to become evident.

 

In contrast, the core CPI, which excludes crude and food prices, is anticipated to increase to 5.6% from 5.5%. The tenacity of inflationary pressures is maintained by the resiliency of demand for essential products, as a result of a higher labor cost index. A similar event could compel the Federal Reserve (Fed) to raise rates again at its May monetary policy meeting.

 

Regarding the Swiss Franc, Swiss markets are suspended on Easter Monday. This week, the Producer Price Index (PPI) data will have an impact on the Swiss Franc.

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