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March 14 - Sources familiar with the matter revealed that some oil loading operations at the Port of Fujairah in the United Arab Emirates, located outside the Strait of Hormuz, have been suspended following a drone attack and subsequent fire on Saturday morning. The Abu Dhabi National Oil Company and the Fujairah Port Authority did not immediately respond to requests for comment. The attack comes after the US military struck Harq Island, crucial for Iranian oil exports. Iran responded by stating that any attack on oil and energy infrastructure would provoke attacks on US-linked energy facilities in the region. The escalation of the conflict in the Persian Gulf has disrupted energy trade in the region, damaged oil and gas infrastructure, and nearly severed traffic in the Strait of Hormuz. The Port of Fujairah in the UAE is one of the few remaining ports in the region exporting oil and has previously reported missile threats.According to AFP: Since the Russia-Ukraine conflict, Norway has become the largest single supplier of natural gas to the European continent. Now, Norway hopes to use the Middle East conflict as an opportunity to secure EU approval for its (natural gas) drilling in the Arctic.Ukrainian President Zelensky: Overnight, Russia used approximately 430 drones of various types and a large number of missiles. There were 13 ballistic missiles alone, bringing the total number of missiles in the attack to 68. According to preliminary data, 58 of them were shot down by our air defense system.Ukrainian President Zelensky: Russias main target was energy facilities in the Kyiv region, but unfortunately, ordinary residences, schools, and civilian businesses were also attacked and damaged. Four people are currently known to have died.Ukrainian President Zelensky: We are cleaning up the aftermath of the massive Russian attacks in the Kyiv region, Sumy, Kharkiv, Dnepro, and Mykolaiv.

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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