EUR/USD 1.16341
-0.215%
Gold 4507.58
0.663%
Oil 58.618
0.632%
USD/JPY 157.879
0.650%
GBP/USD 1.34060
-0.254%
GBP/JPY 211.655
0.407%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
U.S. Secretary of State Marco Rubio: The United States supports the courageous Iranian people.On January 10th, a research report from Founder Securities stated that the December non-farm payroll data was mixed, with the US job market generally showing a mild downward trend, but the unemployment rate showed marginal improvement, giving the Federal Reserve more reason to wait and see in January. Combined with the Supreme Courts potential declaration that the IEEPA tariffs are unconstitutional, this may be a short-term positive for US stocks and the US dollar, but a negative for US Treasuries. Data on new jobs, job openings, and hourly wage growth indicate that the US job market remained relatively weak in December, but the marginal decline in the unemployment rate was one of the few bright spots. Looking at interest rate futures and US Treasuries, the market priced in a no-rate-cut by the Fed in January, with a possible rate cut as early as June. Meanwhile, the Supreme Courts potential declaration that the IEEPA tariffs are unconstitutional means that economic expectations may improve marginally, inflationary pressures may weaken, but the fiscal deficit may worsen. With the Fed in no hurry to cut rates and tariffs easing, US Treasuries face many unfavorable factors in the short term and are likely to remain at high levels. US stocks will benefit from the AI boom and reduced tariff disruptions, especially in sectors affected by tariffs such as consumer staples and industry, which are more resilient.January 10 - According to the UN Security Council schedule, the Security Council will hold an emergency meeting on the situation in Ukraine on January 12.On January 10th, Xiaomi Auto released a statement in response to netizens questions, stating that the new generation SU7 will be equipped with the Xiaomi Super Motor V6s Plus across the entire series. In addition to the motor being jointly supplied by United Electric and Inovance Technology, Xiaomi will also introduce its own self-developed and self-produced V6s Plus Super Motor in the future to further improve production efficiency and shorten delivery cycles.On January 10th, Chen Jianye, Secretary of the Party Leadership Group and Director of the Fujian Provincial Department of Industry and Information Technology, stated that the next step will be to accelerate the digital transformation of the manufacturing industry, enhance its green foundation, and promote the transformation of industries towards "new" and "green." This includes: Deepening the implementation of the "Nine Major Actions" for comprehensive digital empowerment of industrial manufacturing; adhering to the principle of enterprise-led development, strengthening government guidance, and leveraging the role of service providers to create more transformation benchmarks, promote chain-based transformation and overall transformation, and accelerate the large-scale application of digital technologies in the manufacturing industry; Deepening and expanding "Artificial Intelligence +"; making good use of the new round of incremental policies for artificial intelligence, supporting the cultivation of industry-specific models and intelligent agents, accelerating industry adaptation and scenario expansion, and promoting the empowerment of various industries by artificial intelligence; guiding the differentiated and characteristic development of the Fuzhou-Xiamen-Quanzhou provincial-level artificial intelligence industrial parks; and carrying out in-depth energy conservation and carbon reduction special actions; closely monitoring national carbon assessment requirements, and implementing energy conservation reviews and carbon emission assessments for "high energy consumption and high pollution" projects in the industrial sector; building Fujians green advantages in manufacturing, cultivating more national and provincial-level green parks and enterprises, and promoting the construction of a number of zero-carbon parks and factories.

USD/CHF Remains Low in the Mid-0.9300s Advance of the Swiss GDP

Alina Haynes

Feb 28, 2023 11:44

 USD:CHF.png

 

The USD/CHF pair on Tuesday morning shows the pre-data nervousness as it nears 0.9350. However, the market's cautious optimism and wide US Dollar volatility allow the Swiss currency pair to consolidate its first monthly gain in four months.

 

US Treasury bond yields fell, lending credence to the White House's pro-trade narrative.

 

Despite its political differences with the nation of the dragon, the United States offers an olive branch to China's business community, enabling the S&P 500 Futures to track Wall Street's gains at the time of publication. Politico reported late on Monday that, "despite fraying relations with Beijing, US President Joe Biden is expected to forgo broad new restrictions on American investment in China," rejecting a drive by some "hawks" in his administration and Congress.

 

It's essential to remember that while the S&P 500 Futures print modest gains by mirroring Wall Street's upbeat closing, US Treasury bond yields continue to be subpar during the quiet hours of Tuesday's trading.

 

US Durable Goods Purchases dropped -4.5% in January, below the -4.0% forecast and 5.1% lower than in December, according to data released on Monday. However, the Nondefense Capital Goods Orders ex Aircraft rose by 0.8% compared to analysts' predictions of 0.0% growth and -0.3% in previous readings. In a similar manner, US Pending Home Purchases increased 8.0% MoM, exceeding expectations of 1.0% and prior levels of 1.1%.

 

On the other hand, Federal Reserve Governor Philip Jefferson said on Monday that a return to 2% inflation is crucial if such sustained economic development is to be possible. According to Reuters, "Economic data this month showed still tight labor markets and sticky inflation, leading Fed funds futures traders to wager on higher rates, which in the US are now seen peaking in September at 5.4%, up from presently 4.58%."

 

The GNP for Switzerland's fourth quarter (Q4) will be crucial for the future. According to projections, quarterly GDP grew by 0.3% from the previous quarter's 0.2%, but annualized GDP declined by 1.2% from the previous quarter's 0.5% growth.

 

The early US trade figures for January, consumer confidence from the Conference Board, the Chicago Purchasing Managers' Index, and the Richmond Fed Manufacturing Index for February will all be important for USD/CHF traders to monitor alongside the Swiss GDP.


Suggestion