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June 7th - A new Israeli study shows that B cells with "immune memory" against tumor cells exist long-term in ovarian cancer patients. When encountering invading tumor cells again, these cells can quickly deploy targeted "defense weapons," namely, producing effective antibodies that can specifically bind to tumor cells. This discovery provides new insights for developing cancer immunotherapy and preventing cancer recurrence.According to the Financial Times, OpenAI is preparing for the biggest overhaul of ChatGPT since its launch. The company plans to transform ChatGPT into a "super app" that combines coding tools and AI agents, and add products that executives believe will generate more revenue.June 7th - Yesterday (June 6th), the worlds first prefabricated computing center base was officially put into use in Qingdao, Shandong. Compared to traditional computing centers, it saves nearly 70% of the construction time, providing a more efficient and lower-carbon solution for current computing infrastructure construction. Simply put, the computing center base is the energy hub and power fortress of the computing center, also known as the "heart" of the center, providing a continuous and stable power supply. The stability of the bases power supply and its energy efficiency directly affect the overall working capacity of the computing center.June 7th - The price of household liquefied petroleum gas (LPG) in Delhi, India, has increased by 29 rupees per can (approximately US$0.3054). According to the website of Indian Oil Corporation, Indias largest state-owned refiner and fuel retailer, the company has raised the price of a 14.2 kg can of household LPG in Delhi from 913 rupees to 942 rupees, effective June 7th. Indias three major state-owned fuel retailers typically adjust fuel retail prices in tandem.On June 7th, AstraZeneca CEO Robert Soriot warned that, given the terms of its agreement with the Trump administration to reduce drug costs for US patients, the pharmaceutical giant may be forced to suspend the launch of new drugs in the UK and Europe if it cannot secure higher drug prices. Soriot stated that European countries must increase investment in innovative drugs, otherwise the Anglo-Swiss joint venture will have no choice but to focus almost entirely on the US market, as nearly half of its revenue comes from the US.

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.

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