EUR/USD 1.16234
0.010%
Gold 4420.40
0.185%
Oil 91.265
0.581%
USD/JPY 153.535
-0.527%
GBP/USD 1.35377
-0.018%
GBP/JPY 207.854
-0.540%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
China Passenger Car Association: Tesla exported 36,119 China-made cars in August.Futures Commentary by Everbright Futures: On September 7th, COMEX gold continued its sideways trading, closing at $4452.0 per ounce, down 0.55%. Domestic SHFE gold futures continued to hover around 960 points in the night session, closing at 954.1 yuan per gram, down 0.04%. 1. News: The US-Canada trade war escalated, with Canada planning to impose tariffs ranging from 15% to 50% on hundreds of US goods on Tuesday. Trump threatened to ban the sale of Bombardier aircraft in the US. Geopolitically, Saudi Aramco oil facilities were attacked again, and traffic in the Strait of Hormuz fell to its lowest level since May. Regarding central banks, Chinas gold reserves at the end of August were 76.73 million ounces (approximately 2386.57 tons), an increase of 650,000 ounces (approximately 20.22 tons) month-on-month. The Peoples Bank of China has increased its gold holdings for the 22nd consecutive month. 2. CME data shows that interest rate hike expectations are still rising. If the FOMC does raise rates in September, it will mark a reversal of the policy tone of the easing cycle that has been in place since 2024. However, given the influence of US Treasury bonds, a rate hike would essentially mean that market expectations have been met. Nevertheless, with interest rate hike expectations fluctuating, there is significant uncertainty surrounding the September Fed meeting, and price performance may also be volatile. The US August PPI and CPI data will be released successively from September 10th to 11th, which may provide strong guidance for the Feds interest rate decision, and the market may experience increased intraday volatility around these data releases.Sri Lankan Ceylon Petroleum executives: In addition to WTI and Siberian Light crude, they are testing Sahara blends to diversify their refining feedstock sources.Sri Lankan Ceylon Petroleum executives: Seeking foreign joint venture partners with access to crude oil to expand refining capacity.Sri Lankan Ceylon Petroleum executives: Plans to double refining capacity to 100,000 barrels per day within four years.

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