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Irans Supreme National Security Council Secretary Rezaei stated that Washington has recently received a clear signal from Irans new missile operations: any economic war will be met with a response, and Iran will designate the area in the Persian Gulf extending into the US maritime blockade as a maritime no-go zone. The operational posture against US warships and military bases has undergone a fundamental adjustment.September 8th - Sources revealed that British Foreign Secretary David Miliband will announce a new sanctions mechanism targeting West Bank settlements on Tuesday. This measure primarily targets West Bank settlements and does not comprehensively affect trade and security relations between Britain and Israel. Sources also revealed that British diplomats have privately informed the US that the sanctions are more symbolic, intended to mitigate potential reactions from the Trump administration. The Burnham government hopes to project a tougher stance on Israel than former Prime Minister Keir Starmer within its party and among voters, but this move could damage its relationship with US President Trump.On September 8, the Houthi rebels in Yemen claimed responsibility for a ballistic missile attack on military trucks carrying supplies from Saudi Arabia to the government-controlled Wadia military base in Hadramawt province. Houthi-controlled Al-Masirah TV released footage of the attack, stating that it used domestically produced ballistic missiles. The report did not mention any casualties.Conflict Situation: 1. Iranian Parliament Speaker Ghalibaf: Attacking our assets will provoke retaliation. 2. Iran claims to have destroyed three "terrorist and extremist groups" linked to the US and Israel within its territory. 3. Yemeni pro-government armed forces stated they carried out 13 airstrikes against Houthi positions, gathering points, and vehicles in Bayda province. 4. According to the Financial Times: Sources revealed that Saudi Aramcos Jizan oil facilities were attacked. 5. Yemeni Houthi rebels: On September 7th local time, Saudi warplanes launched airstrikes on the Hazim district of Jawf province, Yemen. 6. Yemeni Houthi rebels: The Yemeni Houthi rebels just shot down a Saudi CH-4 armed reconnaissance drone over Jawf province. Strait of Hormuz: 1. Iranian Supreme National Security Council Secretary Rezaei: US ships will have no safe place in the region. 2. Iranian Foreign Ministry Spokesperson Baghae: An agreement on a temporary passage through the Strait of Hormuz will be reached in the coming days. 3. US Central Command: The USS George H.W. Bush continues its blockade of Iran in the Arabian Sea. Other matters: 1. Irans Ministry of Economy establishes an Economic Warfare Command. 2. Iran: A Qatari delegation visits to "help ease tensions." 3. UAE Presidents Foreign Affairs Advisor: Rebuilding trust with Iran could take decades. 4. Iran warns South Korea: Do not cooperate with the US in the Persian Gulf, or face serious consequences. 5. According to Al Jazeera: Iran says it has the "legitimate right" to defend itself against the US economic war. 6. Iranian Foreign Ministry Spokesperson Baghae: Perus severing of diplomatic ties with Tehran has no substantial impact, as the relationship never existed to begin with. 7. South Korean Ministry of National Defense: We are in close consultation with the international community, including the US, to explore how to make concrete contributions to the restoration of freedom of navigation in the Strait of Hormuz and to peace and stability in the Middle East. No specific plans have been decided yet. 8. Iran unveils a new missile, claiming it is more accurate and has a longer range, symbolizing Irans shift "from passive deterrence to active deterrence." 9. Irans representative to the International Atomic Energy Agency: If the US and Israels attacks on Irans safeguarded and peaceful nuclear facilities are "normalized," it will have serious consequences. Irans Bushehr nuclear power plant meets all safety standards. Iranian Foreign Ministry spokesman Bagaei: Canadas support for the US policy toward Iran is essentially a capitulation to US pressure, which damages its diplomatic credibility.

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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