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August 15th - According to the Financial Times, Kyivs air defense forces were almost helpless in the face of a recent round of Russian ballistic missile attacks. The reason is simple: their Patriot missile defense systems ran out of interceptor missiles. This severe shortage of the only weapon capable of intercepting Russian ballistic missiles launched at Ukraine is exposing a critical vulnerability in Ukraines air defense system. As Moscow intensifies its offensive ahead of winter, the pressure on Ukraines air defense is further escalating. Ukrainian officials stated that the limited number of interceptor missiles supplied by the United States has been exhausted in recent weeks. Russia launched a missile attack on Kyiv on August 5th, followed by a second attack three days later. In both attacks, Ukraine failed to intercept any incoming ballistic missiles. Ukrainian officials revealed that due to the increasingly serious shortage of interceptor missiles, the Ukrainian Air Force has stopped routinely publishing the number of missiles launched by Russia to avoid revealing the number of missiles it failed to intercept.August 15th - According to the website of the China Maritime Safety Administration, the Jiangmen Maritime Safety Administration issued a navigation warning stating that military training will be conducted in parts of the South China Sea from 00:00 to 12:00 daily from August 16th to 17th, and entry is prohibited.Russian Foreign Ministry: The potential US and Turkish arms supply plans to Kyiv would weaken Moscow’s relations with Washington and Ankara.Russian Foreign Ministry: A spokesperson for the Russian Foreign Ministry stated that the US and Turkey have been asked to explain their reported plans to provide weapons to Kyiv.On August 15, local time, Iranian Foreign Ministry spokesman Bagaei said that despite US obstruction, talks between Iran and Oman are progressing actively, and the two sides have reached an agreement on a navigation scheme for the Strait of Hormuz.

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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