EUR/USD 1.16299
0.057%
Gold 4376.50
0.487%
Oil 92.112
-0.102%
USD/JPY 153.474
-0.329%
GBP/USD 1.35452
0.039%
GBP/JPY 207.888
-0.296%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Royal Bank of Canada raised its price target for Qualcomm (QCOM.O) from $160 to $180.The SC crude oil futures contract rose more than 5%, currently trading at 738.5 yuan per barrel, a new high since March 23.Royal Bank of Canada initiates coverage of Sanofi European stocks with a "Sector Perform" rating and a target price of €80.On September 9th, the Hainan Provincial Housing Provident Fund Management Bureau released a draft notice soliciting public opinions on the "Notice of the Hainan Provincial Housing Provident Fund Management Bureau on Carrying Out the Business of Withdrawing Housing Provident Fund for Home Renovation (Draft for Solicitation of Opinions)". The draft proposes that families with no outstanding housing provident fund loans in Hainan Province can apply to withdraw their own and their spouses housing provident fund for renovation of one self-occupied home under their family name in Hainan Province, starting from the date of home purchase registration or obtaining the real estate ownership certificate (for second-hand homes, the certificate must have been obtained for at least 6 months). Each contributor can only apply for renovation withdrawal once every 10 years; and only one renovation withdrawal is allowed for the same home within 10 years. The withdrawal amount for home renovation is calculated based on the building area of the house multiplied by 1000 yuan/㎡, and the maximum withdrawal amount for a family at one time shall not exceed 150,000 yuan.On September 9th, U.S. Treasury Secretary Bessenter expressed support on Tuesday for Washington using its financial power as a foreign policy tool to advance the interests of U.S. allies, including playing a role in financial and political affairs abroad. Bessenter stated, "I believe we can use the U.S. balance sheet to advance foreign policy. Therefore, we have a foreign policy goal, which is to build alliances in the Western Hemisphere." He added, "Argentina was the first country to take this approach; we considered the Millais governments policies sound." Last year, the U.S. provided Argentina with a multi-billion dollar aid package to help stabilize its currency and support Millais ahead of the midterm elections. Bessenters remarks mark a public acknowledgment by the Trump administration of its willingness to use U.S. financial resources to influence foreign politics and economics.

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