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February 17th - A Russian diplomatic source stated late on the 16th that a Russian delegation led by Presidential Aide Medinsky had departed and was expected to arrive in Geneva, Switzerland, early on the 17th to participate in trilateral talks between Russia, the United States, and Ukraine. Bilateral contacts between Russia and Ukraine are possible during the talks. The source said the Russian delegation would arrive in Geneva around 6:00 AM local time on the 17th. The US is technically involved in coordinating the necessary permits for the Russian delegations arrival in Geneva via the EU. The source said the trilateral talks plan to discuss key factors in resolving the Ukrainian issue, including military, political, and humanitarian issues. The duration of the talks is currently unknown. Bilateral contacts between Russia and Ukraine are possible during the Russia-US-Ukraine talks.BHP Billiton (BHP.N): Optimistic about the economic backdrop supporting key commodities.BHP Billiton (BHP.N): The Escondida copper mine is expected to produce between 1 million and 1.1 million tons in fiscal year 2027.BHP Billiton (BHP.N) reported a net profit of $5.64 billion for the first half of the year, up 28% year-on-year; revenue for the first half was $27.902 billion, higher than the market estimate of $26.907 billion.February 17th - BHP Billiton (BHP.N) announced that it has signed a long-term working capital agreement with Wheaton Precious Metals International Limited. The agreement stipulates that BHP Billiton will receive a $4.3 billion upfront payment upon completion of the transaction. BHP Billiton will deliver silver to Wheaton in accordance with its share of silver production at the Antamina mine. Under the agreement, Wheaton will pay BHP Billiton 20% of the spot price of silver at the time of delivery.

As risk aversion grows as measured by the DXY and as attention turns to the US NFP, USD/CHF goes closer to 0.9600

Alina Haynes

Aug 03, 2022 14:51

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In reaction to the dismal market environment, the US dollar index (DXY) has gained, and the USD/CHF pair is swiftly approaching the key level of 0.9600. After defending Monday's low around 0.9480, the pair had a greater reverse on Tuesday, as the risk-aversion theme strengthened the attraction of the DXY.

 

Following US House Speaker Nancy Pelosi's travel to Taiwan to support Taiwan's local government despite China's wishes, tensions between the US and China have increased. In reaction to the death threats made against Pelosi during her private travel to Taiwan, the US is anticipated to adopt sanctions against China, which encouraged the gloomy market sentiment.

 

In the meanwhile, the DXY has achieved a three-day high of 106.55, although the gain may wane ahead of Friday's US Nonfarm Payrolls (NFP) data. According to market expectations, the U.S. economy added 250,000 jobs to the labor force in July.

 

During a brief period, a number of significant IT companies in the United States abandoned the hiring process, resulting in payroll statistics that multiplied. If the same thing occurs, the Federal Reserve (Fed) will be compelled to speak less about policy rates.

 

On the Swiss franc front, investors anticipate the release of the Consumer Price Index (CPI) numbers. An early estimate of the annual inflation rate places it at 3.5%, little higher than the prior estimate of 3.4%. As a result, the Swiss National Bank (SNB) will be compelled to boost interest rates.


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