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July 7th - According to the Jerusalem Post, US President Trump stated on Monday that US-Iran negotiations are close to reaching an agreement, but if the negotiations fail, the US will "finish the job." He claimed that the US has the capability to destroy all of Irans key infrastructure, including its power grids, power plants, and bridges, "in less than an afternoon," but prefers to resolve the issue through an agreement to avoid impacting Irans 91 million people. He reiterated that Iran must not possess nuclear weapons, and that the US will acquire Irans enriched nuclear materials, emphasizing that the goal is not regime change. Trump also claimed that the US military has destroyed all 159 Iranian ships, all military aircraft, and radar systems. Regarding oil prices, President Trump stated, "Oil prices are currently lower than before the war (in terms of per barrel). The US military secretly escorted oil tankers through the Strait of Hormuz during its blockade, successfully maintaining global crude oil supply and preventing oil prices from soaring to $300 to $350 per barrel."French presidential palace: Macron will call on Syria to play a role in "easing tensions in the Middle East".French presidential palace: Macrons visit to Syria will include discussions on reconstruction.According to Reuters, data shows that U.S. strategic petroleum reserve (SPR) crude oil inventories fell by about 6.2 million barrels last week to 319.5 million barrels, the lowest level since 1983.The Dutch Defense Minister announced that the Netherlands will announce defense procurement agreements and joint projects totaling over €3 billion at the NATO forum on Tuesday. An air defense partnership with Belgium and a naval ship cooperation project with the United Kingdom will also be announced at the event.

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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