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Zhipu (02513.HK) rose more than 7% at one point during the session, breaking through the HK$1,000 mark and reaching a high of HK$1,005, a record high. The gains have now fallen back to 4.5%.Japanese Chief Cabinet Secretary Minoru Kihara: The Bank of Japan is expected to implement appropriate monetary policy to achieve its inflation target sustainably and stably.April 13th - ANZ Bank now expects the Reserve Bank of New Zealand (RBNZ) to raise interest rates by 25 basis points in three consecutive increases in July, September, and October, bringing the official cash rate to 3%. With inflation inevitably rising, maintaining the official rate at a stimulative level is expected to make the RBNZ uneasy. ANZ Chief Economist Sharon Zolner stated that such a rate hike would be very powerful, therefore ANZ no longer predicts the official rate will need to be raised to 3.5%. She added that the rate will remain unchanged at 3% after reaching 3%.On April 13th, four members of Barclays Fixed Income, FX, and Commodities research division stated in a research report that Asian central banks are likely to maintain their current monetary policies in the short term amid the Middle East conflict. They indicated that the Monetary Authority of Singapore (MAS) is likely to keep its policy unchanged this Tuesday, noting that the MAS seems more concerned about the risk of extreme negative growth than inflation. Meanwhile, Barclays believes that unless the US dollar depreciates significantly against the Indonesian rupiah ahead of the Indonesian central banks meeting this month, the Indonesian central bank will not be able to quickly resume its rate-cutting cycle. Furthermore, the central banks of Thailand and the Philippines, which will also be meeting this month, are expected to hold their rates steady.April 13 - Following the failure of negotiations between the United States and Iran, US President Trump stated on April 12 that he did not care whether Iran returned to the negotiating table. Trump told the media that day, "I dont care if they come back. If they dont come back, I dont care either."

USD/CHF Oscillates between 0.9330 and 0.9350 as the DXY Finds Support at 99.70

Drake Hampton

Apr 14, 2022 11:04

The USD/CHF pair is trading in a range of 0.9325-0.9356 as the US dollar index (DXY) seeks bids near 99.70 following a sharp decline on Wednesday. The asset is inching closer to its weekly high of 0.9370.

 

The pair is aiming higher as the probability of a Federal Reserve interest rate hike of 50 basis points (bps) increases (Fed). In May, the Fed will dictate monetary policy, and a rising US Consumer Price Index (CPI) combined with a tight job market increases the likelihood of an aggressive hawkish attitude for May and the remainder of the year.

 

Fed Governor Christopher Waller advocated for aggressive interest rate hikes in the future, but cautioned that aggressiveness should not be confused with abruptness, as this could push the US economy into recession. An rapid shift in interest rate policy will significantly lower aggregate demand and employment possibilities, posing a substantial danger to the US economy.

 

Investors' attention will now turn to monthly US retail sales, which are expected to come in at 0.6 percent, up from the previous figure of 0.3 percent. While the Swiss bourse will publish its annual Real Retail Sales report later this month. Previously, Swiss Real Retail Sales were registered at 12.8 percent during a 12-month period.

USD/CHF

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