• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 7th, AstraZeneca CEO Robert Soriot warned that, given the terms of its agreement with the Trump administration to reduce drug costs for US patients, the pharmaceutical giant may be forced to suspend the launch of new drugs in the UK and Europe if it cannot secure higher drug prices. Soriot stated that European countries must increase investment in innovative drugs, otherwise the Anglo-Swiss joint venture will have no choice but to focus almost entirely on the US market, as nearly half of its revenue comes from the US.On June 7th, Eli Lilly (LLY.N) announced the results of a trial of its next-generation weight-loss drug, Retatrutide, to medical experts. The results showed that in addition to promoting weight loss and relieving knee pain, the drug can also reduce the severity of sleep apnea. In a phase 3 clinical trial, Eli Lilly found that once-weekly injections of Retatrutide reduced symptoms of moderate to severe obstructive sleep apnea by 60.6% in obese adult patients. In the same trial, Eli Lilly also found that the drug reduced pain in patients with knee osteoarthritis by up to 73.1%.On June 7th, the Nansha District Government and Baoan District Government of Guangzhou signed a strategic cooperation framework agreement. The two districts will promote comprehensive cooperation in multiple areas, including industrial collaboration, technological innovation, talent exchange, infrastructure, and a high-quality living environment, jointly creating a new model of coordinated development in the Greater Bay Area and supporting the high-quality development of the "Golden Inner Bay." In the area of peoples livelihood, the two districts will pilot projects in areas such as sharing high-quality educational resources, cross-regional medical cooperation, mutual recognition and interoperability of social security rights, and cross-regional use of housing provident funds.On June 7th, German Chancellor Merz stated at the CDU state party congress in Mecklenburg-Western Pomerania that despite disagreements within the ruling coalition on some issues, the coalition still possesses the ability to "push forward reforms and maintain unity and cooperation." He believes that the current difficulties can be overcome, and Germany is expected to show a new development trend in a relatively short period of time. When discussing key reform areas, Merz mentioned digitalization, streamlining administrative procedures, improving infrastructure, and ensuring energy supply. He stated that Germany has the potential to build a more efficient railway transport system, enhance data transmission capabilities, and maintain international competitiveness in modern climate protection technologies. Furthermore, Germany also has the capability to build one of the most powerful conventional armed forces in Europe.On June 7th, it was learned from the Hainan Provincial Housing Provident Fund Management Bureau that, in order to standardize the management of individual housing provident fund accounts and improve data quality, the bureau will conduct a cleanup of "one person, multiple accounts" among contributors. According to reports, during a special investigation, the bureau discovered that some contributors had "one person, multiple accounts" (multiple accounts under different names using the same ID number). According to the "Housing Provident Fund Management Regulations," each employee can only have one housing provident fund account. The bureau has issued a notice reminding relevant contributing units and contributors to proactively verify their account details from June 6th to June 20th.

The USD/CHF Currency Pair Advances to a 54-Week High of 0.9470 Ahead of SNB Jordan's Speech

Drake Hampton

Apr 19, 2022 09:56

On Tuesday, the USD/CHF pair extended its five-day winning streak, as unfavorable market sentiment appeals to safe-haven assets. The asset is trading near Monday's high of 0.9454 and is expected to extend gains following the former's breach.

 

Rising expectations of a big rate hike by the Federal Reserve (Fed) are driving the US dollar index higher (DXY). The DXY is approaching 101.00, as the Fed is left with little choice but to accelerate interest rate hikes. The greenback has seen an adrenaline rush following Federal Open Market Committee (FOMC) member James Bullard's hawkish comments. Bullard believes interest rates will be 3.5 percent this year and that the door is open for a 75 basis point (bps) rate as well.

 

Further advice will come from Fed head Jerome Powell's upcoming speech on Thursday. The Fed's Powell's dictates will establish a clear route to the lowest rates reverting to neutral rates.

 

On the Swiss calendar, investors are focusing on Tuesday's speech by Swiss National Bank (SNB) Chairman Thomas J. Jordan, which will provide insight into the Swiss National Bank's (SNB) expected June monetary policy action. The SNB has kept interest rates at their lowest level in 13 years, at -0.75 percent, despite inflation printing at a 13-year high of 2.2 percent. Switzerland's inflation rate has recently increased, owing to higher commodities and fossil fuel prices.

USD/CHF

截屏2022-04-19 上午9.55.22.png