EUR/USD 1.17061
-0.285%
Gold 4670.39
-0.948%
Oil 98.387
-0.329%
USD/JPY 157.794
0.117%
GBP/USD 1.35084
-0.230%
GBP/JPY 213.161
-0.108%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 13th, Alibaba announced at its earnings conference that Taobao Flash Sales overall order volume for the first quarter of this year was 2.7 times that of the same period last year, with non-food retail orders reaching 3 times that of last year. The company is confident of achieving positive UE (Unified Product) before the end of the new fiscal year. Last April, Alibaba launched its food delivery campaign. This means that after a year of competition, Taobao Flash Sales scale is nearly three times that of a year ago.Israel Defense Forces: Strikes have been carried out against Hezbollah infrastructure in southern Lebanon.On May 13th, Tencent executives stated in a conference call following the release of the first-quarter financial report that the companys capital expenditures will increase going forward, and more domestically produced chips will be put into use in the second half of this year. Tencent Cloud has consistently lacked sufficient GPU resources, making it difficult to meet all the needs of external customers, which has impacted revenue generation and market share. The Tencent executives stated that investments in AI include both short-term and long-term investments, and the company will not manage each related product on a quarterly basis, but rather review it based on the asset portfolio and lifecycle.Ukrainian President Zelensky: Sanctions are effective, our remote capabilities are effective, and various pressure tactics are working. We maintain close contact with the United States.Ukrainian President Zelensky: We will not give up diplomatic efforts and hope that pressure on Russia, along with various forms of negotiations, will help bring about peace.

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