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July 29 - According to relevant work arrangements, the Ministry of Finance will issue the fourth tranche of RMB treasury bonds for 2026 in the Hong Kong Special Administrative Region on August 5, with an issuance scale of RMB 15 billion. Specific issuance arrangements will be announced by the Hong Kong Monetary Authoritys Central Moneymarkets Unit (CMU).July 29th - Capital Economics economist Abhijit Surya stated that weaker-than-expected Australian inflation data is likely to keep the Reserve Bank of Australia (RBA) on a wait-and-see approach regarding monetary policy tightening. Given the unexpected decline in core inflation in the second quarter, the RBA is unlikely to feel any urgency to raise interest rates in the near term. Capital Economics added that the latest data may prompt the RBA to keep interest rates unchanged at its upcoming August meeting.July 29 – At a press conference held by the State Council Information Office today (July 29), the State Intellectual Property Office introduced its efforts to actively promote rapid and collaborative intellectual property protection. Currently, 83 national-level intellectual property protection centers and 54 rapid rights protection centers have been established nationwide, forming a balanced, tiered, and clearly oriented rapid and collaborative protection network. This network provides local advantageous industries and innovative entities with comprehensive "one-stop" intellectual property protection services, including rapid pre-examination, rapid rights confirmation, and rapid rights protection.On July 29, the State Council Taiwan Affairs Office held a regular press conference. Spokesperson Chen Binhua stated that cross-strait exchanges have remained active since the summer vacation began, with airlines resuming four direct cross-strait routes, which have been well-received by passengers. To further meet the needs of cross-strait passengers, relevant airlines are working hard to restore their direct cross-strait route product system and upgrade transit services. Chen Binhua reiterated that our attitude towards promoting the full restoration of normalized direct cross-strait air travel is positive and clear. We hope that Taiwan will face up to the realistic demand for direct cross-strait passenger flights, follow public opinion, and promptly remove unreasonable restrictions on cross-strait air transport, allowing airlines on both sides to independently arrange flight schedules based on market demand.According to the Financial Times, Meta Platforms CEO Mark Zuckerberg stated that banning the use of cutting-edge Chinese artificial intelligence in the United States is not an "effective solution."

USD/CHF Consolidates in a Range of 0.9320-0.9350 on Expectations of Rate Reversion to Neutral

Drake Hampton

Apr 08, 2022 09:57

Tips

  • USD/CHF remained stuck around 0.9350 despite a big increase in US Treasury yields.

  • The DXY is aiming for 100.00 as traders increase their expectations for an aggressive rate hike.

  • Russia resigns from the United Nations Human Rights Council.

 

Since Thursday, the USD/CHF pair has been swinging within a narrow band of 0.9318-0.9348 as Federal Reserve (Fed) policymakers have begun prescribing a reversion to neutral rates from ultra-loose monetary policy postures.

 

After commenting on the amount to which the Fed will raise interest rates in future monetary policies, members of the Fed's Monetary Policy Committee (MPC) have changed their focus to calling for a return to neutral policy. The ultra-loose monetary policies and helicopter money used to boost growth following the Covid-19 outbreak have served their purpose, and it would be preferable to return to normal rates and a self-sufficient economy. Atlanta Fed President Raphael Bostic stated on Thursday that while it is quite acceptable for the Fed to move policy closer to neutral, it should go cautiously, according to Reuters.

 

On the Russia-Ukraine front, Russia is expelled from the United Nations (UN) Human Rights Council after its members voted against the Kremlin's war crimes in Bucha, Ukraine. Additionally, US lawmakers have decided to prohibit Moscow from importing oil, gas, and coal. Additionally, the former has opted to revoke its 'Most Favored Nation' trade designation, resulting in higher tariffs for Moscow.

 

Meanwhile, the US dollar index is heading towards the enchanted level of 100.00, fueled by forecasts for better US Consumer Price Index (CPI) data next week. The yield on the 10-year US Treasury note has recaptured a three-year high of 2.66 percent as rate rise worries resurface.

USD/CHF

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