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On April 3, Iranian Ambassador to Egypt Mojtaba Ferdowsi Poul stated that if the United States decides to send troops to land on Iranian islands, it could lead to the Houthi rebels blocking the Bab el-Mandeb Strait. Ferdowsi Poul said, "We hope our enemies will not make another strategic mistake against Iran. If they want to land on or occupy Iranian islands, another strait will become like the Strait of Hormuz, which will trigger financial markets and the global economy. This is not the situation we want. We will not beg the Houthis, but they have this plan." Houthi political bureau member Mohammed al-Buhaiti previously stated that the movement might block the Bab el-Mandeb Strait connecting the Red Sea and the Gulf of Aden, but only against the invading nation.Futures News, April 3rd - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.7%, mainly due to a surge in international crude oil futures. US President Trumps statement that the US would continue attacks on Iran sparked market concerns about a potential long-term disruption to crude oil supplies, causing Brent crude futures to jump 7.8%, which boosted sentiment in the Chicago soybean oil market. The May contract closed near its intraday high, slightly below this weeks high of $69.68. The US Department of Agricultures weekly export sales report showed that for the week ending March 26, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,100 tons, a 53% increase from the previous week, but a 58% decrease from the four-week average.Federal Reserves Goolsby: Uncertainty is leading to an environment of low hiring and low layoffs.Federal Reserves Goolsby: When gasoline prices rise sharply, some complications can arise that could push up inflation expectations. That would make things even more difficult for us.Federal Reserves Goolsby: The economy is showing a relatively stable trend.

Price of USD/CHF Nearing New Three-Year High Above 1.0070

Daniel Rogers

Oct 21, 2022 15:09

截屏2022-10-21 上午10.08.56.png 

 

During the Tokyo session, the USD/CHF pair surpassed its immediate barrier at 1.0050 and is set to attempt a three-year high reached on October 13 at 1.0074. The negative market sentiment brought on by late selling in the S&P 500 and rising rates has bolstered the dollar bulls.

 

The 10-year US Treasury yields reached 4.23 percent as a result of a surge in wagers on an anticipated rate hike announcement by the Federal Reserve (Fed). At the time of publication, the US dollar index (DXY) had surpassed the key 113.00 mark.

 

Daily, the asset is trading in a narrow range between 1.0048 and 1.0074 in the direction of the supply zone. The 20-period and 50-period Exponential Moving Averages (EMAs) are vertically aligned to the north, which confirms the upward filters.

 

Similarly, the Relative Strength Index (14) anticipates a move towards the bullish zone between 60.00 and 80.00. A similar scenario will further strengthen the greenback bulls.

 

If the asset surpasses its peak of 1.0074 on October 13, it will reach a fresh three-year high. The predominant trend is toward the round-number resistance level of 1.0100, followed by the 15 April 2019 peak of 1.0160.

 

Alternatively, the bulls of the Swiss franc may regain control if the asset breaches the September 29 low of 0.9742. This would result in the pair reaching a high of 0.9695 on September 19 and a low of 0.9620 on September 22.

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