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Futures Market Summary | Wednesday, September 9th, CCTV News Highlights: 1. On the occasion of the 42nd Teachers Day, Xi Jinping extended festive greetings and sincere regards to teachers and education workers across the country. 2. CCTV Quick Commentary: Creating a positive atmosphere of respecting teachers and valuing education throughout society gathers powerful synergy for building a strong education nation. 3. Xi Jinping sent a congratulatory message to the Supreme Leader of North Korea on the 78th anniversary of the founding of the DPRK. 4. Xi Jinping spoke with the British Prime Minister by telephone. 5. Ding Xuexiang attended the 2026 Global Trade in Services Summit and met with foreign dignitaries. 6. Jiangxi: From the starting point of the Long March to a new highland of development. 7. Developing socialist democracy凝聚中国式现代化合力 (凝聚中国式现代化合力 - gathers synergy for Chinese-style modernization). 8. my countrys CPI rose 0.8% year-on-year in August. 9. my country continues to increase its efforts in ensuring peoples livelihood and continuously improves peoples well-being. 10. Sun Shaocheng, former deputy director of the Social Construction Committee of the 14th National Peoples Congress, was expelled from the Party and dismissed from public office for serious violations of discipline and law. 11. my country released its eighth batch of new occupations, including 11 new occupations and 23 new job categories. 12. Mr. Tung Chee-hwa passed away. 13. Railway transportation plans for the Mid-Autumn Festival and National Day holidays were announced. 14. The All-China Federation of Industry and Commerce released a report on the innovation status of private enterprises. 15. 47 key activities will be held nationwide this year for the Harvest Festival. 16. my countrys first 100-meter deep in-situ oil and gas expansion platform was put into use. 17. The China Coast Guard completed its 2026 North Pacific high seas fisheries enforcement patrol. 18. The "Tiangong Classroom: Hong Kong and Macao Special Session" space lecture was held today. 19. The 19th "Chinese Bridge" World Secondary School Chinese Competition Global Finals were launched. 20. Britain, France, and Canada announced sanctions against Israel and condemned Israel for undermining the "two-state solution." 21. Iran claimed to have struck US warships and bases; the US claimed to have destroyed Iranian oil tankers. 22. The Russian and US leaders spoke by phone, focusing on resolving the Ukraine issue. 23. The US announced new trade measures against Canada. 24. The 81st UN General Assembly focused on rebuilding trust and governance reform. 25. Russia stated it would respond strongly to Hungarys expulsion of Russian diplomats.A German government spokesperson stated that the Ukraine negotiations are a positive sign, and Germany welcomes them.On September 9th, local time, Russian Presidential Press Secretary Dmitry Peskov told the media that there is currently no established roadmap for mediating the Russia-Ukraine conflict, only the political will to resume negotiations. Russia hopes that the trilateral negotiations between Russia, the US, and Ukraine can resume within a foreseeable timeframe. Peskov stated at a press conference on September 8th that Russia hopes to resume trilateral negotiations on the Ukraine issue. Peskov said that Russian troops are advancing along the line of contact, but are always willing to move towards peace, depending on Kyivs choices. He claimed that Kyiv lacks flexibility on conflict mediation and is not genuinely interested in a ceasefire, as Ukraine still relies on some European countries that want to strategically defeat Russia. Peskov also revealed that sanctions have been included in the conflict mediation negotiation agenda, but are not the primary issue; resolving the conflict itself is the top priority.British Prime Minister Burnham: The measures taken against Israel have been considered with the utmost care and comprehensiveness. The two-state solution faces the risk of fading away.On September 9th, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met with Andre Demarai, Honorary Chairman of the Canada-China Business Council, at the Great Hall of the People. He Lifeng stated that during President Xi Jinpings meeting with Prime Minister Carney in January, both sides agreed to promote the building of a new type of strategic partnership between China and Canada, providing new strategic guidance for the development of bilateral relations. He welcomed Canadian businesses to share in the opportunities presented by Chinas high-quality development and hoped that the Canada-China Business Council would play a bridging role and make greater contributions to the development of China-Canada economic and trade relations. Demarai stated that the processing industry is full of confidence in Chinas economic prospects, and the Canada-China Business Council is willing to continue to contribute to the healthy and stable development of Canada-China economic and trade relations.

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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