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March 4th - Data from the National Bureau of Statistics shows that the new orders index for the non-manufacturing sector in February was 45.2%, down 0.9 percentage points from the previous month, indicating a slight decline in market demand in the non-manufacturing sector. By sector, the new orders index for the construction industry was 42.2%, up 2.1 percentage points from the previous month; the new orders index for the service industry was 45.7%, down 1.4 percentage points from the previous month. The input price index was 50.9%, up 0.9 percentage points from the previous month, indicating that the overall price level of inputs used by non-manufacturing enterprises for operating activities has increased. By sector, the input price index for the construction industry was 49.1%, down 2.9 percentage points from the previous month; the input price index for the service industry was 51.2%, up 1.5 percentage points from the previous month.March 4th - Data from the National Bureau of Statistics shows that, by sector, the business activity index for the construction industry was 48.2%, down 0.6 percentage points from the previous month; while the business activity index for the service industry was 49.7%, up 0.2 percentage points from the previous month. Within the service sector, the business activity indices for accommodation, catering, and culture, sports, and entertainment were all above 60.0%, indicating a high level of prosperity; while the business activity indices for capital market services and real estate were below the critical point.March 4th - According to data from the National Bureau of Statistics, in terms of enterprise size, the PMI for large manufacturing enterprises in February was 51.5%, up 1.2 percentage points from the previous month and above the critical point; the PMIs for medium and small enterprises were 47.5% and 44.8% respectively, down 1.2 and 2.6 percentage points from the previous month and below the critical point. Looking at the sub-indices, among the five sub-indices that constitute the manufacturing PMI, the production index, new orders index, raw material inventory index, employment index, and supplier delivery time index were all below the critical point.According to the National Bureau of Statistics, the composite PMI output index was 49.5% in February, down 0.3 percentage points from the previous month, indicating that the overall production and operation activities of Chinese enterprises slowed down compared with the previous month.Japans Ministry of Finance will auction 2.5 trillion yen in five-year government bonds on March 11.

USD/CHF Oscillates between 0.9330 and 0.9350 as the DXY Finds Support at 99.70

Drake Hampton

Apr 14, 2022 11:04

The USD/CHF pair is trading in a range of 0.9325-0.9356 as the US dollar index (DXY) seeks bids near 99.70 following a sharp decline on Wednesday. The asset is inching closer to its weekly high of 0.9370.

 

The pair is aiming higher as the probability of a Federal Reserve interest rate hike of 50 basis points (bps) increases (Fed). In May, the Fed will dictate monetary policy, and a rising US Consumer Price Index (CPI) combined with a tight job market increases the likelihood of an aggressive hawkish attitude for May and the remainder of the year.

 

Fed Governor Christopher Waller advocated for aggressive interest rate hikes in the future, but cautioned that aggressiveness should not be confused with abruptness, as this could push the US economy into recession. An rapid shift in interest rate policy will significantly lower aggregate demand and employment possibilities, posing a substantial danger to the US economy.

 

Investors' attention will now turn to monthly US retail sales, which are expected to come in at 0.6 percent, up from the previous figure of 0.3 percent. While the Swiss bourse will publish its annual Real Retail Sales report later this month. Previously, Swiss Real Retail Sales were registered at 12.8 percent during a 12-month period.

USD/CHF

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