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On September 21st, a groundbreaking ceremony was held in Kaohsiung, Taiwan, for a new advanced packaging industrial park. TSMC plans to establish facilities there for technology verification and talent training. At the ceremony, the Deputy Mayor of Kaohsiung stated that TSMC will construct two buildings in the Baipu Industrial Park, including a technology verification laboratory and a talent training center. These facilities are expected to be operational by the fourth quarter of 2029. The Baipu Park covers a total area of approximately 88.7 hectares (approximately 219.2 acres), of which approximately 53.6 hectares are designated for industrial use.September 21st - According to Iranian sources on the 20th, Iranian Foreign Minister Araqchi will visit Qatar to discuss the regional situation. Reports indicate that Araqchi left Tehran on the evening of the 20th for New York to attend the 81st UN General Assembly. He will first make a brief stop in Doha, Qatar, to discuss the current regional situation. Qatari Foreign Ministry spokesman Majid Ansari stated on the 20th that Qatar is maintaining communication with the United States and Iran, pushing for the resumption of negotiations between the two countries. He said that several US government officials have indicated that the US hopes to reach an agreement and end the conflict. Speaking at the Qatar Economic Forum in New York, Ansari stated that Qatar has been exchanging views with the United States and Iran over the past few weeks, and Qatar is working to bridge its differences. However, he did not provide a timetable for resuming negotiations.On September 21, Vice President Han Zheng met with Australian House Speaker John Dick in Beijing. Han Zheng stated that China and Australia are important partners. Last July, President Xi Jinping met with Prime Minister Albanese, charting the course for further positive development of bilateral relations. China is willing to work with Australia, guided by the important consensus reached by the leaders of the two countries, upholding the principles of equality, seeking common ground while reserving differences, and mutually beneficial cooperation, to enhance strategic communication, deepen mutually beneficial cooperation, strengthen multilateral coordination, properly handle differences, and promote the building of a more mature, stable, and fruitful comprehensive strategic partnership between China and Australia. Dick stated that this visit allowed him to personally witness the deepening economic and trade exchanges and close people-to-people ties between the two countries, and he was pleased to see the stable and fruitful development of Australia-China relations. Australia attaches great importance to Australia-China relations and adheres to the one-China policy. The Australian House of Representatives is willing to strengthen dialogue and exchanges with China, expand pragmatic cooperation, and bring benefits to the people of both countries.New Zealand Prime Minister Lukeson: New Zealand has now ratified the free trade agreement with India.On September 21, following the turmoil at Situational Awareness, a hedge fund betting on artificial intelligence that resulted in massive losses for Jane Street, the Bank of England and the Federal Reserve have stepped up their scrutiny of banks exposure to large trading firms. Sources familiar with the matter said regulators are questioning global banks about their exposure to trading firms and market makers, including New York-based Jane Street and Ken Griffins Citadel Securities. These regulators had previously prioritized understanding banks exposure to so-called non-bank financial intermediaries. However, sources indicated that they have intensified their efforts to understand positions related to trading firms and market makers after this sell-off and Jane Streets losses. Regulators want information on these firms risk appetite, how banks exposure to them changes intraday, and how risk controls operate.

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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