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Conflict Update: 1. Houthi rebels claim to have struck Saudi Arabia twice in one day. 2. Saudi Arabia confirms coalition strikes against Houthi rebels in Yemen. 3. Houthi rebels claim to have struck a southern Saudi city. 4. Lebanon claims Israeli military action caused a powerful explosion in the countrys south. 5. Sources say missiles that attacked a Saudi oil refinery were intercepted. 6. After 13 consecutive nights of strikes against Iran, the US military has not announced any further airstrikes against Iran. 7. Houthi spokesperson: The maritime blockade is the first step in a "blockade for blockade" operation. 8. Zelensky: Ukraine attacked ships carrying Iranian military supplies in the Caspian Sea. 9. Security sources: Iraqi air defenses shot down a drone near the US consulate in Erbil. 10. Two Yemeni military officials say the Yemeni air force struck Houthi missile and drone launch sites along the front lines in Marib and Jawf provinces. 11. UK Maritime Trade Organization: Received a report on Friday of an incident involving an oil tanker and military forces in the Gulf of Oman. 12. Trump: If we dont get 100% what we want, we will consider resuming a full-scale war. 13. Iranian Revolutionary Guard: The number of American deaths in Operation Victory 2 exceeds 200. US-Iran Negotiations 1. US President Trump: The Iranian side is currently in contact with us, but I dont think they are ready to reach an agreement. 2. It is reported that negotiations between Oman and Iran have made progress, and Trump called a halt to the strikes against Iran on Friday. Strait of Hormuz 1. US Central Command: The US maritime blockade against Iran remains fully enforced. As of July 25, 12 merchant ships attempting to break the blockade have been forced to change course, 2 disobedient vessels have had their navigation capabilities disabled, and 2 vessels have been boarded for inspection to ensure full compliance. 2. US Central Command: On July 24, measures were taken in the Gulf of Oman to stop the Mozambican-flagged oil tanker "Lavine" from sailing. 3. Spokesperson for the Iranian Parliaments National Security Committee: The main point of contention between Iran and the United States is the Strait of Hormuz. The strait will never return to its pre-war state. Other developments: 1. Iranian official: The Ghoshka facility is "currently empty." 2. Bahrain and Kuwait were reported to have secretly launched airstrikes against Iran; Kuwait denied this. 3. Israeli forces launched a large-scale manhunt in the West Bank, detaining more than 70 Palestinians. 4. The US and UK plan to hold a meeting on the Strait of Hormuz issue to promote the formation of a Hormuz maritime security coalition. 5. According to Irans Press TV: Following Yemens attack on oil refineries, large-scale queues for refueling have appeared across Saudi Arabia. 6. Qatars Ministry of Transport: From July 26, all types of maritime transport and shipping activities will fully resume. 7. Qatars Ministry of Foreign Affairs: The Prime Minister and Foreign Minister confirmed the need for all parties to commit to implementing the memorandum of understanding between Washington and Tehran. 8. A spokesperson for the Iranian Revolutionary Guard stated that if Britain supports the US in the war, it will become a clear and legitimate target. 9. A drone crashed near the residence of Israeli National Security Minister Ben-Gevil in Hebron; there were no casualties. 10. Iran: Sold a total of $18 billion worth of oil during the war and ceasefire.Ukrainian Air Force: Russian forces are attacking Kyiv with ballistic missiles.U.S. Central Command: Earlier today, the U.S. military completed an inspection and boarding of the Comoros-flagged oil tanker “Charminar” in the Arabian Sea. The tanker has now continued its voyage.According to the Iranian Students News Agency, Iraqi sources say that several violent explosions and widespread fires have occurred at the Jambul oil field in Iraqs Kirkuk province.According to Irans Fars News Agency, a spokesperson for the Iranian Revolutionary Guard stated that if Britain supports the United States in a war, it will become a clear and legitimate target.

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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