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On August 6th, Federal Reserve Governor Tim Cook reiterated her stance: she is prepared to raise interest rates if inflation does not slow, and warned that policymakers may not have room to wait for inflation to return to the 2% target. While Cook supported the Feds decision to keep interest rates unchanged at the July policy meeting, she cautioned that the longer inflation remains above the Feds target, the more difficult it will be to curb it. Speaking at an event in Alaska, Cook said, "If I dont see signs of a sustained decline in inflation anytime soon, Im prepared to act. With inflation above target for five consecutive years, the risk of inflation becoming entrenched in price and wage-setting behavior is rising, which will lead to more persistent inflation that we will find harder to manage." However, Cook indicated that the waning impact of tariffs, the potential for lower oil prices, and easing pressures related to the AI boom might provide a buffer for inflation, thus necessitating policy tightening. She stated that her primary task remains getting inflation back to the Feds target level.SanDisk (SNDK.O) shares fell more than 3% in after-hours trading in the U.S.SanDisk (SNDK.O) reported revenue of $8.96 billion for Q4 of fiscal year 2026, exceeding market expectations of $8.394 billion and compared to $1.901 billion in the same period last year.SanDisk (SNDK.O) expects revenue of $10.3 billion to $10.8 billion for the first quarter of fiscal year 2027, compared with market expectations of $10.8 billion.Federal Reserve Governor Cook: Weak consumer confidence is related to a number of factors, including high inflation.

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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