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August 10th – Today, with one month to go until the opening of the 2026 China International Fair for Trade in Services (CIFTIS), a series of details regarding the organization, service, and support of the event were officially released at the CIFTIS permanent venue, Shougang Park. At this years CIFTIS, over 80 enterprises and institutions plan to release more than 180 innovative achievements, and for the first time, a "Global Services Enterprises Exhibition Area" will be set up, further enhancing the internationalization, professionalism, and marketization of the event. To date, nearly 70 countries and international organizations, including the UK, Denmark, Brazil, Australia, the World Trade Centers Association, and the Food and Agriculture Organization of the United Nations, have confirmed their participation. Norway, the guest of honor, and Guangxi, the guest province of honor, have respectively established national pavilions and themed pavilions.As of 15:00 Beijing time, spot platinum rose 1.11% and spot palladium rose 0.64%.According to RIA Novosti, a drone strike by Ukraine on Nizhny Kamsk, Russia, has killed 12 people and injured 39.The chart shows that at 22:00 Beijing time on August 10, there will be large foreign exchange options contracts for currencies such as Euro and Japanese Yen expiring, including 5 contracts with strike prices exceeding 1 billion. Please manage your risks.On August 10th, SenseTime (00020.HK) announced that it has recently secured a multi-million yuan education contract with the Saudi National School Bus Operations and Management Authority to jointly develop a nationwide smart school bus integrated digital management platform centered on artificial intelligence. This platform will serve over 1.2 million students in Saudi Arabia, constructing an end-to-end digital management system covering the entire process of commuting to and from school. It will achieve integrated upgrades in school bus operation, safety supervision, service collaboration, and data governance, providing crucial support for the digitalization of education and the modernization of public services in Saudi Arabia.

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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