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On March 21, the Israel Defense Forces (IDF) issued a statement saying that Iran recently launched a ballistic missile carrying a cluster bomb warhead into central Israel. IDF rescue forces stated that Iran launched a ballistic missile carrying a cluster bomb warhead into central Israel, causing damage to three locations in Rishon LeZion.March 21 (Tasnim News Agency) – Iran has warned residents of Ras Al Khaimah in the United Arab Emirates, urging them to evacuate via designated routes. The report stated that Ras Al Khaimah is likely to become a target in the near future, given its use in operations against Iranian islands. The Iranian Islamic Revolutionary Guard Corps posted on social media that Ras Al Khaimah would suffer severe damage if Iranian islands were attacked again from the UAE.March 21 – The Ukrainian National News Agency reported today (March 21) that a Ukrainian delegation has arrived in Miami, Florida, and will hold bilateral talks with US representatives that day. The Ukrainian delegation includes Umerov, Secretary of the National Security and Defense Council; Budanov, Chief of Staff of the Presidential Office; Kislitsa, First Deputy Chief of Staff of the Presidential Office; and Allakhamia, Chairman of the Parliamentary Faction of the Servant of the People Party. The US delegation includes US Presidential Envoy Witkov and Jared Kushner, former senior White House advisor and Trumps son-in-law. This is reportedly the first bilateral meeting between Ukraine and the US since the large-scale military action launched by the US and Israel against Iran on February 28.March 21 – The National Energy Administration released data on electric vehicle charging infrastructure nationwide for February 2026 on March 21. According to data from the National Charging Infrastructure Monitoring and Service Platform, as of the end of February 2026, the total number of electric vehicle charging infrastructure (guns) in my country reached 21.01 million, a year-on-year increase of 47.8%.On March 21, Hungarian Prime Minister Viktor Orbán told the media on the 20th that the Hungarian government might take further measures against Ukraine, urging it to resume oil supplies from Russia via Ukraine as soon as possible. Orbán, believing Ukraine had deliberately cut off crude oil supplies from Russia since January, blocked a €90 billion (approximately $104 billion) aid loan from the EU to Ukraine at the EU summit in Brussels on the 19th. According to Hungarian media reports, Orbán said that in addition to blocking financial aid to Ukraine, he and his government had "quite a few bargaining chips," such as opposing a new round of EU sanctions against Russia. He also warned that 40% of Ukraines electricity supply is transmitted through Hungary.

USD/CHF Consolidates Around 0.9040 As Attention Shifts To US Inflation

Daniel Rogers

Apr 10, 2023 14:27

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The USD/CHF pair continues to trade lacklusterly above the crucial support level of 0.9036 in the early Tokyo session. Investors are shifting their focus to Wednesday's release of United States Consumer Price Index (CPI) data, making it difficult for the Swiss Franc to gain traction.

 

As tensions between China and Taiwan escalate, S&P500 futures have pared some of their gains. The market's anxiety has been alleviated by the increasing intensity of Chinese military exercises around Taiwan Island. In addition, concerns of a recession are likely to cause volatility in US equities.

 

Jamie Dimon, CEO of JPMorgan Chase, stated in an interview with CNN that the recent banking turmoil caused by the dissolution of Silicon Valley Bank (SVB) and Signature Bank has increased the likelihood of a recession in the United States.  Despite the robustness and security of the banking system, the recent turmoil in the financial system is "another weight on the scale" toward recession, he added.

 

The US Dollar Index (DXY) is protecting the 102.00 support level ahead of US Consumer Price Index (CPI) data. According to the consensus, headline inflation will fall from 6.0% to 5.2%. In addition, the headline monthly CPI would decelerate to 0.3% from 0.4% previously reported. As a consequence of oil prices remaining low in March, inflationary pressures are anticipated to become evident.

 

In contrast, the core CPI, which excludes crude and food prices, is anticipated to increase to 5.6% from 5.5%. The tenacity of inflationary pressures is maintained by the resiliency of demand for essential products, as a result of a higher labor cost index. A similar event could compel the Federal Reserve (Fed) to raise rates again at its May monetary policy meeting.

 

Regarding the Swiss Franc, Swiss markets are suspended on Easter Monday. This week, the Producer Price Index (PPI) data will have an impact on the Swiss Franc.

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