EUR/USD 1.15132
-0.128%
Gold 4083.44
-0.491%
Oil 80.932
-2.076%
USD/JPY 160.575
0.669%
GBP/USD 1.34554
-0.073%
GBP/JPY 216.066
0.607%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 31 – This morning, the National Development and Reform Commission (NDRC) held its July press conference. An NDRC spokesperson stated that the 109 major projects outlined in the 15th Five-Year Plan are being implemented at an accelerated pace. This year, a number of major projects have commenced, including the Three Gorges Waterway New Channel, the Guangzhou New Airport, and the Shangbaishi Water Conservancy Project in Fujian. Preliminary work on projects such as the east and west sections of the Xinjiang-Tibet Railway and the modernization of the Dujiangyan Irrigation System in Sichuan is being expedited, with the aim of starting construction and generating tangible results as soon as possible.The Central Bank of the Philippines predicts that the annual inflation rate in July is likely to be between 5.6% and 6.6%.On July 31, the National Development and Reform Commission (NDRC) held a briefing on the development and reform situation in the first half of 2026 on July 30. The meeting emphasized that the development and reform system must effectively carry out all aspects of development and reform work to promote sustained, innovative, and positive economic development and ensure the achievement of the annual targets. This includes accelerating the construction of a modern industrial system, adhering to the principle of tailoring measures to local conditions and implementing differentiated policies to cultivate and strengthen emerging and future industries; deeply implementing the "Eastern Data, Western Computing" project, coordinating the layout and orderly construction of computing facilities; accelerating the creation of a number of benchmark applications for artificial intelligence, providing rapid empowerment to key industries such as manufacturing, agriculture, and energy, and accelerating the legislative process for an artificial intelligence law; promoting the high-quality and efficient development of the service industry, and driving quality improvement, cost reduction, and carbon reduction in key industries.On July 31, Jiang Lue, spokesperson for the China Coast Guard, stated that the Xiushan frigate formation of the China Coast Guard conducted routine law enforcement patrols in the waters east of Taiwan on July 31. Since July, the Xiushan frigate formation has continuously strengthened control over the relevant waters, effectively ensuring normal navigation and operational order, and earnestly safeguarding the legitimate rights and interests, as well as the lives and property of Chinese citizens, including compatriots in Taiwan. The China Coast Guard will continue to strengthen law enforcement patrols in waters under Chinese jurisdiction and resolutely safeguard national territorial sovereignty and maritime rights.July 31 – Korea Investment & Securities stated that Samsung Electronics increasing shift towards long-term memory chip supply contracts is improving earnings visibility and supporting a stronger profit outlook. The brokerage noted that the companys second-quarter results exceeded expectations as memory chip prices surged, while new hyperscale cloud service provider agreements helped stabilize demand and capacity utilization. The brokerage raised its target price for Samsung by 10% to 650,000 won to reflect the improved earnings outlook and potential upside for HBM pricing, while maintaining a buy rating.

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

Daniel Rogers

Apr 10, 2023 14:27

USD:CHF.png

 

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.

Suggestion