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Eli Lilly (LLY.N) executives: The current tariff measures have not had a substantial impact on the companys financial outlook for 2025. The expansion of tariffs in other regions or the increase in retaliatory tariffs will have a negative impact on the industry.The USD/JPY exchange rate broke through 145, rising 1.37% on the day.May 1st news, the U.S. manufacturing industry shrank further in April, and tariffs on imported goods put pressure on the supply chain, leading to higher input costs. The Institute for Supply Management said on Thursday that its manufacturing PMI fell to a five-month low of 48.7 from 49.0 in March. Economists had predicted that the PMI would fall to 48. The PMI fell for the second consecutive month, ending the short-lived recovery in the manufacturing industry. Previously, people hoped that the Trump administration would relax the regulatory environment and the Federal Reserve would cut interest rates, which boosted the recovery of the manufacturing industry. The forward-looking new orders sub-index of the ISM survey rose to 47.2 after falling to 45.2 in March, the lowest since May 2023. Last month, factory production remained sluggish and supplier delivery performance also deteriorated. The surveys supplier delivery index rose to 55.2 from 53.5 in March.Financial website Forexlive: The US ISM manufacturing PMI was better than last month, which may highlight a theme in the S&P Global report - some orders have become active due to tariff conversion.The U.S. ISM output index in April was 44, compared with 48.3 in the previous month.

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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