• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The monthly rate of US wholesale sales for July will be released in ten minutes.Oracle (ORCL.N) continued to rise in early trading, with the increase expanding to 40%.On September 10, Swiss National Bank President Schlegel stated that the central bank would not shy away from lowering borrowing costs below zero if necessary. With only two weeks until the quarterly interest rate decision, Schlegel emphasized that he and his colleagues are ready to return to the policy stance they exited three years ago if necessary. At that time, policymakers will decide whether to maintain the current 0% interest rate level. "If it is really necessary, we will not hesitate," Schlegel said. Several officials, including Schlegel, have previously stated that because negative interest rate policies could have adverse effects on pensions and the financial system, the threshold for interest rate cuts is higher than for other policy adjustments. Most economists expect policymakers to keep interest rates unchanged at the September 25 meeting; a few predict a 25 basis point cut to -0.25%.On September 10, Armin Papage, CEO of German defense giant Rheinmetall, said he was confident in achieving the companys ambitious profit and revenue targets for 2030, thanks to the companys streamlining and expansion of ammunition production. When asked whether it could achieve a 20% profit margin on projected sales of 40 billion to 50 billion euros in 2030, Papage said: "I am fully convinced that we can do it. I think we are in good shape," adding that this was due to heavy investments in production digitalization and cost reduction. Rheinmetall has benefited from the efforts of EU governments to invest trillions of euros in rearmament. Papage expressed doubts about whether Russia and Ukraine could reach a ceasefire, and said that security would be Europes top priority for the next 10 to 15 years.GameStop (GME.N) rose 3.5% after the companys second-quarter revenue exceeded expectations.

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