EUR/USD 1.16168
0.071%
Gold 5132.79
0.998%
Oil 78.260
0.664%
USD/JPY 157.480
-0.044%
GBP/USD 1.33647
0.054%
GBP/JPY 210.472
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 6th, State Street Investment Management stated in a report that geopolitical tensions and the global macroeconomic backdrop continue to support gold. Strategists noted that "geopolitical tensions in the Middle East have once again come into focus," triggering safe-haven buying in macro markets, including gold and the US dollar. "Gold allocations in portfolios remain underweight, with significant room for expansion through 2026, both tactical and strategic," they added. They further stated that if the conflict with Iran escalates, gold prices could retest the $5,500 to $5,600 per ounce range in March.Yaojie Ankang-B (02617.HK) surged over 20%, with a turnover exceeding HK$400 million.March 6 - Reuters, citing two U.S. officials, reported that U.S. military investigators believe the U.S. military is likely responsible for the February 28 airstrike on a girls primary school in Iran. Iranian authorities reported 165 deaths upon concluding their search and rescue operation. The U.S. investigation is ongoing and has not yet reached a final conclusion. Reuters reportedly could not obtain further details about the investigation, including what evidence led to this initial assessment, what munitions were used, and why the U.S. attacked the school. The two U.S. officials who revealed the information stated that the possibility of new evidence emerging—evidence that could exonerate the U.S. and point the finger at another party—has not been ruled out. The Pentagon stated, "Given that the investigation is ongoing, it is inappropriate to comment." The White House did not respond.The Hong Kong stock markets AI application sector rebounded, with Meitu (01357.HK) rising nearly 7%, Zhipu (02513.HK) and Mobvista (01860.HK) rising nearly 6%, and MINIMAX-WP (00100.HK) rising more than 5%.March 6 - Ukrainian President Volodymyr Zelenskyy stated at a briefing on March 5 that the "Friendship" oil pipeline, damaged in the Russian attacks at the end of January, may be technically ready to resume operation within a month and a half. Zelenskyy said he initially did not want to continue with the pipelines restoration, but in order to secure the approval of the EUs €90 billion loan package for Ukraine, the country "may have no other choice."

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