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On April 12, local time, US President Trump posted on social media that the US-Iran talks had reached an agreement on "most issues," but failed to reach an agreement on the key issue of "nuclear weapons." Trump said the US had been briefed on the talks, which lasted approximately 20 hours, but Iran "was unwilling to give up its nuclear ambitions." Trump stated that the US would continue to push for negotiations, but was "fully prepared." He reiterated that Iran "will never possess nuclear weapons."The UK Maritime Trade Operations Office: The crew requested the sailboat to stop; when the captain refused, they attempted to tow the small boat alongside the sailboat to board it.April 12 - Crown Prince Khalid of Abu Dhabi, United Arab Emirates, arrived in Beijing on the evening of April 12 to begin a visit to China.On April 12th, Pepperstone strategist Dilin Wu stated that the failure of the US-Iran agreement has firmly established uncertainty. The recent strengthening of the dollar, accompanied by a slight decline in US Treasury yields, is a fairly reasonable pricing outcome. After the initial shock of the news subsides, the reaction of US Treasuries could become more complex. Short-term yields may continue to decline slightly due to safe-haven demand, but if oil prices continue to rise, they will quickly re-anchor to higher inflation expectations, thus putting new upward pressure on long-term yields. Monday is also likely to see the energy and defense sectors outperform the broader market, opening with a significant upward gap. The energy sector is the most direct beneficiary of supply-side contraction, while the defense sector reflects the rising geopolitical risk premium and its more persistent characteristics. However, the magnitude of market volatility will depend on two key factors—the sustainability of the oil price strength and whether the market confirms that this is a sustained supply shock, rather than just a short-term, sentiment-driven reaction.According to the Financial Times, UK financial regulators are conducting an urgent assessment of the risks of Anthropics latest AI model.

USD/CHF Moves Sideways to 1.0020 as DXY Holds Steady and Powell Warns of Additional 50 bps Rate Hikes

Daniel Rogers

May 13, 2022 09:53

The USD/CHF pair is experiencing a pullback as momentum oscillators on the lower timeframe have become very overbought. During the Asian trading session, the pair is fluctuating within a tight range of 1.0024 to 1.0035. Sustaining the dollar bulls above the psychological support of 1.0000 will be advantageous going forward.

 

The pair has stayed in the grip of dollar bulls as measured by the rising US dollar index (DXY). The DXY is gaining significantly due to optimistic economic statistics. The outperformance of the US Nonfarm Payrolls (NFP) and the higher-than-expected publication of the US Consumer Price Index (CPI) and Producer Price Index (PPI) have increased the likelihood that the Federal Reserve (Fed) will implement more significant rate hikes this year.

 

After reaching a new 19-year high of 104.93 during the European session, the DXY is undergoing a minor pullback in the Asian session. In an interview with the national radio program Marketplace, Fed chair Jerome Powell said that the Fed may raise interest rates by 50 basis points (bps) at each of the next two policy sessions. In addition, the Fed promises that "we're prepared to do more" if data deteriorate.

 

In the meantime, the Swiss franc faces a prolonged dramatic sell-off as their ultra-loose monetary policy fails to stimulate demand growth in their economy. In addition, the unchanged unemployment rate and inflation figures failed to provide a buffer for the asset.

USD/CHF

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