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Reserve Bank of Australia Governor Bullock will hold a monetary policy press conference in ten minutes.The yield on Japans 20-year government bond fell 1.0 basis point to 3.135%.March 17th - Beijing released its economic performance data for January and February. New residential housing sales reached 664,000 square meters, a 10.9% increase, primarily driven by concentrated sales of affordable housing. In January and February, new commercial housing sales in Beijing totaled 934,000 square meters, a 1.3% year-on-year decrease, a significant narrowing of 5.6 percentage points compared to the 6.9% decrease for the whole of last year.March 17th - Thailands Deputy Prime Minister stated on Tuesday that Thailand has discussed the possibility of purchasing crude oil with the Russian government. He said the Thai Foreign Minister raised the issue at a meeting in Europe on Monday, and it is understood that negotiations are underway regarding the purchase of Russian crude oil. The Thai government will strive to keep domestic diesel prices capped at 33 baht (US$1.02) per liter.On March 17th, Rakuten Securities strategist Masayuki Kubota stated that if oil prices remain in the $90 per barrel range, Japanese companies willingness to invest in capital expenditures and private consumption are likely to remain robust. In this scenario, the negative and positive effects of rising energy costs will offset each other, limiting the drag on corporate profits. He believes that under this scenario, there is no need to revise his forecast of over 15% net profit growth for companies listed on the Tokyo Stock Exchanges main board for the fiscal year ending March 2027.

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

 截屏2022-08-03 上午9.47.05.png

 

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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