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On September 14th, at a screen technology communication conference held at Samsung Displays headquarters in South Korea, Samsung Display and iQOO officially announced the "Samsung Display × iQOO Future Display Exploration Plan." The first phase of this plans achievements will be featured on the iQOO 16, including 2K 165Hz display, Samsung M16 luminescent material, and 2K LEAD 2.0 display technology.September 14th - According to the Financial Times, persistently high inflation has led to a standoff between Trump and Federal Reserve Chairman Warsh this week, with markets bracing for a Fed rate hike despite the presidents demands. Economists warn that the Feds credibility will be at risk if it doesnt support a rate hike on Wednesday, as official data shows the Fed chairman previously stated he needed to see meaningful improvement before avoiding a rate hike, but the data hasnt shown any signs of that. However, a rate hike just weeks before the November midterm elections could anger the president, who has made it clear he wants significantly lower borrowing costs. Trump reiterated on Sunday that the US should have the "lowest interest rates in the world." Trumps National Economic Council Director, Hassett, warned, "If its a rate hike, then the president... Im sure he wont be particularly happy about it."On September 14th, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan," where the National Health Commission, the State Administration of Traditional Chinese Medicine, and the National Center for Disease Control and Prevention introduced the decisive progress made in promoting the construction of a Healthy China. Lei Haichao, Director of the National Health Commission, stated that during the 15th Five-Year Plan period, emphasis should be placed on health governance, highlighting the fundamental, long-term, and stabilizing role of health legislation. We will advance legislation in the health field to better protect the public and practitioners, and better adjust various social relationships. Lei Haichao stated that the National Health Commission is drafting a childcare service law, which has entered the review process of the National Peoples Congress. In addition, the Blood Donation Law, enacted more than 20 years ago, is also being revised to adapt to the current new situation of blood supply and demand. During the 15th Five-Year Plan period, the legal foundation in the health field will be further strengthened, and the legal environment will be further optimized.Japans final July inventory growth rate was 0.5%, unchanged from the previous month.Japans capacity utilization index rose 0.5% month-on-month in July, down from 4.10% in the previous month.

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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