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On September 14th, the Yemeni government forces stated on the 13th that in the month-long conflict between the government forces and Houthi rebels along Yemens western coast and related islands, the government forces suffered approximately 2,000 casualties, while the Houthis suffered over 1,000 deaths and thousands of injuries. According to a statement released by the Yemeni military group "National Resistance Forces" and cited by Yemeni state television, the casualties occurred between August 9th and September 10th. The statement said the conflict began with Houthi attacks on the "National Resistance Forces" using missiles and drones, and subsequently spread from southern Hodeidah province on the Red Sea coast to the neighboring Taiz province.September 14th - According to the Jerusalem Post, Trump hinted on Sunday that the US might remain in Iran and "take the oil," comparing it to the US push to control one-fifth of Venezuelas vast oil reserves. Trump was in Ireland for talks and to watch a golf tournament. He reiterated that he still expects the war with Iran to end this year, but it could not end until shortly after the US midterm elections in November. However, Trump also raised an alternative to ending the war: continued involvement in Iranian affairs. He compared this to the agreement reached in Venezuela. Trump stated, "Ultimately we will leave Iran unless we decide to stay and take the oil, like we did in Venezuela." He also claimed that the revenue the US received from Venezuela has "multiple times paid for the costs of the war."On September 13th, according to foreign media reports, US President Donald Trump appeared to reject calls from several high-ranking figures in the artificial intelligence field on Sunday to slow down the development of AI models. During an interview at the Irish Open golf tournament, Trump said, "We are the most advanced country in the world, and frankly, I want that to continue. Whoever wins in AI wins everything." On Saturday, three of the most influential leaders in the AI industry—Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman, and xAI founder Elon Musk—jointly supported slowing down the pace of AI model capability improvements. Trump said, "I think there are a lot of negative forces pushing this thing that shouldnt even be brought up. Theyre bringing up things that simply wont happen."On September 13th, it was reported that the summit originally scheduled for July 22nd, aimed at finalizing a reset agreement for the UK-EU relationship after Brexit, was postponed. The two sides subsequently quietly set the meeting date for November 6th. However, the Financial Times, citing two EU officials, stated that this date has now been postponed again, and the earliest it could be reached is the end of November. British officials insist that the summit should discuss new British Prime Minister Andy Burnhams concerns about the "Make in Europe" plan. This plan proposes prioritizing spending by some public sector and businesses on purchasing EU-made products, a move the British government fears will negatively impact British industries such as automobiles and chemicals.According to IRNA, sources say that sirens were sounded and explosions were heard in the southern Saudi city of Khamis Mushait and Abha.

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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