• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 12 – Jorge Rodríguez, president of the Venezuelan National Assembly, said at a press conference in Caracas, the Venezuelan capital, on July 11 that the two powerful earthquakes that struck the country on June 24 had killed 4,333 people and injured 16,740. Rodríguez stated that the reconstruction efforts are extremely costly, with approximately 25,000 houses awaiting repair. Acting President Delcy Rodríguez is seeking to unfreeze Venezuelan assets seized overseas, including its gold reserves frozen at the Bank of England, for use in the reconstruction efforts.Israeli Prime Minister Benjamin Netanyahu: (Statement on the death of U.S. Senator Lindsey Graham) Israel has lost one of its greatest friends. The United States has lost a great patriot. I have lost a dear friend.The UK Maritime Authority: The security threat in the Strait of Hormuz is extremely serious.July 12th - Typhoon Bavi, the ninth typhoon of the year, made landfall twice in Zhejiang Province, on the night of July 11th and early morning of July 12th, in Yuhuan City, Taizhou, and Yueqing City, Wenzhou. Many areas in Zhejiang Province experienced severe storms and heavy rainfall, causing serious disruption to local production and daily life. On July 12th, the National Disaster Prevention, Mitigation and Relief Committee activated a Level IV national emergency response. To implement General Secretary Xi Jinpings important instructions on flood control and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the disaster losses in Zhejiang Province, the National Development and Reform Commission urgently allocated 100 million yuan from the central budget to support Zhejiang Province in post-typhoon emergency recovery efforts. This funding will primarily be used for the emergency reconstruction of damaged roads, water conservancy infrastructure, and public service facilities such as schools and hospitals in the disaster area, aiming to restore normal production and daily life as quickly as possible.July 12th - Recently, affected by Typhoon Maysak (No. 10 of this year), many parts of Guangxi have experienced severe rainstorms and floods. To implement General Secretary Xi Jinpings important instructions on flood prevention and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the extent of disaster losses in Guangxi, the National Development and Reform Commission, on top of the 100 million yuan emergency allocation from the central budget on July 6th, has allocated an additional 100 million yuan to support Guangxi in further improving post-disaster emergency recovery efforts and promoting the rapid restoration of normal production and daily life.

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

image.png