EUR/USD 1.13865
0.150%
Gold 4071.52
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0.059%
GBP/JPY 213.482
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June 28 - The United States launched a military strike against Iran on June 27 local time.June 28 - Neuberger portfolio manager Joseph Purtell said, "In the short term, the dollar is likely to remain strong due to rising US real interest rates." He believes the dollar is poised to break out of its six- to nine-month range, but added that in the long term, the dollar may weaken given structural issues such as the fiscal sustainability of the US government.The European-Mediterranean Seismological Centre reports a magnitude 6 earthquake off the east coast of Honshu, Japan.On June 28th, Gavekal Research stated in a report: "In 2025, the market is widely concerned that Trump will weaken the independence of US monetary policy, nominate a political puppet as Federal Reserve Chairman, force the Fed to cut interest rates, and cause inflation to remain persistently above the Feds 2% target." "Developments over the past seven months have made this scenario unlikely." These developments include the appointment of Kevin Warsh to lead the Fed and the re-election of 11 of the 12 regional Fed presidents. At Warshs first meeting earlier this month, the Fed emphasized its commitment to price stability, surprising some market participants who had expected a more dovish stance from the new chairman.On June 28, US President Donald Trump nominated Lance Schroyer to be the new Director of US Immigration and Customs Enforcement (ICE). Trump stated that Schroyer, a former Oklahoma State Trooper and US Marine, has extensive experience working with ICE and is adept at combating illegal immigration and deporting undocumented immigrants. Trump also urged the Senate to confirm Schroyers nomination as soon as possible.

The USD/CHF Currency Pair Trades Near 0.9720 as Investors Await the SNB's Jordan Speech

Alina Haynes

Apr 29, 2022 09:44

The USD/CHF pair demonstrated a back and forth movement during the Asian session. The asset is consolidating in a six-pip range ahead of the Swiss National Bank's (SNB) Thomas J. Jordan's Friday address.

 

Jordan's remarks will likely dictate the SNB's monetary policy action in June. For an extended period, the SNB has maintained an ultra-loose monetary policy. However, investors may be surprised this time around as SNB policymakers may sound a little more hawkish. The Swiss Consumer Price Index (CPI) has surpassed the 13-year high of 2.2 percent, significantly exceeding the planned inflation rate of 2%. Although the announcement will take a neutral posture, guidance may be quite aggressive.

 

Meanwhile, the US dollar index (DXY) is undergoing a temporary correction following a stronger upward trajectory. The DXY is currently stabilizing at 103.65 and is looking for a trigger to move higher. The uncertainty surrounding the Federal Reserve's (Fed) announcement of an interest rate decision next week will govern future prices. Investors should brace themselves for a big rate hike, as the Federal Reserve is wary about escalating inflation. Today's session will be dominated by the Michigan Consumer Sentiment Index (CSI), which is expected to come in at 62 points, down from the prior reading of 65.7 points.

USD/CHF

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