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August 12th - According to Tianma Microelectronics, Honor officially launched the Honor Robot Phone on August 12th. As a long-term strategic partner of Honor, Tianma Microelectronics exclusively supplied the screen for this model, deeply customizing the Tianma Tiangong screen high-end OLED display solution. This marks the first time the Tiangong screen has been applied to an AI terminal with embody interactive capabilities.On August 12, Bill Adams, chief U.S. economist at Fifth Third Commercial Bank, said: "The July CPI report barely met the threshold that would have prompted the Federal Reserve to keep interest rates unchanged at its next meeting in September. Fed policymakers have already signaled in July that core inflation must improve between now and the September meeting in order to avoid raising interest rates."The document shows that the European Central Bank expects integration to be "challenging and enduring," noting the tensions and disagreements that exist within it.On August 12th, Karen Manna, Head of Fixed Income Investments at Federated Hermes, stated, "This expected CPI report didnt provide enough new information, nor did it give the Fed a compelling reason to change its policy direction. At the same time, the report also means that the possibility of a Fed rate hike in the fourth quarter remains. However, before taking that action, the Fed may need to see more evidence that inflation is accelerating again."On August 12, Chris Zacarelli, chief investment officer of Northlight Asset Management, said: "This CPI report was not surprising. All the data was in line with expectations. The biggest surprise was that inflation did not accelerate again. Coupled with the recent weak jobs report, this gives the Fed more time to wait and see."

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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