EUR/USD 1.16683
0.044%
Gold 4626.50
-0.541%
Oil 82.455
-2.479%
USD/JPY 159.297
0.128%
GBP/USD 1.36456
0.112%
GBP/JPY 217.375
0.249%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 25th, it was learned from the Industrial Development Bureau of the Hengqin Guangdong-Macao In-Depth Cooperation Zone that the zone has issued the "Hengqin Guangdong-Macao In-Depth Cooperation Zone Supporting Measures for the Construction of Macaos West Bank International Air Transport Hub (Port) (Trial Implementation)," which will be valid until December 31, 2028. Regarding air freight, international freight forwarding companies that entrust Macao air transport companies or air freight sales agents to transport import and export goods through the Hengqin Port and Macao International Airport will receive a subsidy of 12% of the total freight cost, with a maximum annual subsidy of RMB 12 million for each applicant. For eligible Macao-funded enterprises and "seedling and cultivation" enterprises, the relevant subsidies will be implemented at 120% of the corresponding standard, to further strengthen industrial synergy between Macao and Hengqin and contribute to the moderate diversification of Macaos economy.On August 25th, it was announced at a press conference held by the State Council Information Office that the 26th China International Fair for Investment and Trade will be held in Xiamen, Fujian Province, from September 8th to 11th. An official from the Ministry of Commerce stated that Chinas investment attraction situation is currently stable and improving, with foreign investors maintaining their enthusiasm for "investing in China." Ling Ji, spokesperson for the Ministry of Commerce, Vice Minister, and Deputy Representative for International Trade Negotiations, stated that Chinas investment attraction situation is currently stable and improving. By the end of 2025, Chinas stock of foreign investment is expected to reach approximately US$4 trillion. From January to July this year, 38,000 new foreign-invested enterprises were established, and the decline in actual utilized foreign investment narrowed by 6.2 percentage points compared to the same period last year, reaching RMB 438.33 billion. "Here you can also see structural changes. The slowdown or even decline in the growth rate of foreign investment attraction is mainly in traditional sectors, while foreign investment in high-tech industries is continuously increasing," Ling Ji said. In the first seven months of this year, foreign investment in high-tech industries increased by 32.7% year-on-year, accounting for more than 40% of the increase in foreign investment. Survey reports released by chambers of commerce in China from the United States, the European Union, and other countries show that most foreign-invested enterprises have achieved good profits in China, and their willingness to increase investment and expand their operations has generally increased.Market news: A fire broke out at the Atyrau oil refinery in Kazakhstan.Japanese Prime Minister Sanae Takaichi: The US sanctions against International Criminal Court Judge Tomoko Akane are inconsistent with Japans position.On August 25, the 18th meeting of the Standing Committee of the 14th National Committee of the Chinese Peoples Political Consultative Conference (CPPCC) opened in Beijing, focusing on consultation and deliberation on "strengthening efforts to guarantee and improve peoples livelihoods and solidly promoting common prosperity for all the people." Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the CPPCC National Committee, attended the opening ceremony. He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended the meeting and delivered a report. He Lifeng stated that it is necessary to thoroughly study and implement the spirit of General Secretary Xi Jinpings important expositions on strengthening efforts to guarantee and improve peoples livelihoods and solidly promoting common prosperity for all the people, fully implement the deployment of the Fourth Plenary Session of the 20th CPC Central Committee and the "15th Five-Year Plan" outline, accurately grasp the practical requirements of livelihood work, and effectively implement key livelihood tasks, focusing on promoting high-quality and full employment, improving the income distribution system, improving the social security system, promoting high-quality development of the real estate market, and steadily promoting the equalization of basic public services.

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