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On August 30th, US President Trump posted: "At the invitation of the PGA Tour and its outstanding new Commissioner Brian Lolap, I am honored to accept the position of Honorary Chairman for the upcoming Presidents Cup, which will be held at the Medina Country Club in Chicago. It will be an exceptionally exciting tournament. Both teams are full of talent. I look forward to being there in person and meeting all these outstanding players from both teams!"On August 30, according to the Lebanese National News Agency (NNA), Israeli forces bombed a nursing home in the southern Lebanese town of Houla. NNA also reported that an Israeli drone fired a guided missile at an open area between Jalmac and Qafal Leman. This comes after Israeli artillery shelled the suburbs of Zautar Gharbiyeh, and reports of a large explosion between the towns of Markaba and Rab Salahin.On August 30th, according to a source within the Turkish Foreign Ministry, the Turkish Foreign Ministry summoned the Ukrainian ambassador to Turkey on the 29th to lodge a protest regarding the attack on Turkish vessels near the port of Tuapse in the Black Sea earlier this week. The source said Turkey expressed its reaction to the attacks and warned of the necessity of ensuring the safety of people, property, navigation, and the environment in the Black Sea. Recently, there have been several attacks on Turkish merchant ships in the Black Sea. On August 26th, a ship operated by a Turkish company was attacked near the port of Tuapse in the Black Sea. The following day, Turkey dispatched another ship to tow the same vessel, which also became a target. On August 22nd, two Turkish merchant ships were attacked in the Black Sea, resulting in the death of one crew member and injuries to eight others.On August 30th, local time, the Niger National Civil Aviation Authority issued a notice stating that air operations at Diori Hamani International Airport in Niamey, the capital, had fully resumed normal operations on the afternoon of August 29th. Early on the morning of the 29th, local time, reports of intense gunfire and explosions were heard in multiple locations in Niamey, including the area around Diori Hamani International Airport and near the presidential palace. Later that evening, the Nigerien Ministry of Defense issued a statement saying that some soldiers at Military Base 101 in Niamey had attempted a mutiny that day, but the situation was now under control.According to Al Jazeera: Israeli settlers attacked Palestinians and damaged property in the West Bank towns of Burka and Alaba.

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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