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On August 29, according to Irans Fars News Agency, Iranian Army Commander-in-Chief Amir Hatami stated that despite attempts by the "enemy" to destroy Irans drone and missile capabilities, Iran is continuing to launch its stockpiled weapons at "maximum intensity until the very last moment." He added, "According to military logic, the attacker and aggressor are only considered victorious when they achieve their objectives; but in a defensive war, the failure of the enemy to achieve their objectives means that the defender has won."On August 29, International Atomic Energy Agency (IAEA) Director General Grossi issued a statement saying that the Zaporizhia nuclear power plant has been without external power for over a week and is currently relying on emergency diesel generators to maintain the power needed for nuclear safety and security. The agency warned that if external power or diesel supplies cannot be restored in the near future, the plant may face a complete power outage in about 10 days. The Zaporizhia plant reported on August 29 that its current diesel reserves are sufficient to sustain operations for about 10 days, meeting minimum regulatory requirements. The IAEA stated that the plants last diesel fuel supply was in March of this year, and the subsequent supply, originally scheduled for May, was postponed due to frequent local military activity.On August 29, the Belgorod Oblast Operations Command reported that the city of Shebekino in the oblast was shelled and attacked by Ukrainian forces. Shells landed in a private residential area, killing three people. Seven others sustained shrapnel injuries, and one was injured by the shockwave. The city also recorded damage from three drones: one exploded after hitting the road, one exploded inside a house, and one caused a fire in an abandoned garage. Ukraine has not yet responded to the incident.On August 29th, local time, continuous gunfire and explosions were reported in several areas of Niamey, the capital of Niger, starting in the early hours of the morning. Sources stated that militants attacked Diori Hamani International Airport and attempted to breach the security perimeter around the presidential palace. Local residents reported intense gun battles and explosions near the Niamey 101 Air Force Base, which is closely connected to Diori Hamani International Airport. Diori Hamani Airport was attacked twice this year by extremist groups and militants in January and June. Bana Ougana Ibrahim, a member of parliament from the Sahel National Union and a member of the National Transitional Council of Niger, stated on social media that the attackers targeted the 101 Air Force Base, but Nigerien security forces have brought the situation under control. The Nigerien government and military have not yet confirmed these reports.On August 29, the Russian Ministry of Defense announced on Saturday that Russian forces had struck a transshipment point at the port of Mykolaiv, Ukraine. The Ministry stated that the berthing area for refueling ships and the unloading point for fuel and lubricants were also targeted.

USD/CHF Steady at 1.0020 as DXY Pauses, Powell and US Retail Sales Take Center Stage

Daniel Rogers

May 16, 2022 10:46

The USD/CHF pair is bouncing within a small range between 1.0020 and 1.0030 in early Tokyo, as the US dollar index (DXY) is not gaining much traction due to Monday's light economic calendar. Although broad-based fundamentals continue to favor the dollar bulls, the Federal Reserve (Fed) is projected to raise interest rates by another significant number in June in an effort to limit the inflation issue.

 

Last week, Fed's Powell's interview with the national radio show Marketplace revealed the ongoing conversations among Fed policymakers regarding anticipated rate hikes in monetary policies. Fed Powell indicated that the Fed could declare two additional rate hikes in the next two consecutive monetary policy sessions in order to tame the soaring inflation.

 

In the meantime, the US dollar index (DXY) is poised between 104.46 and 104.60 after reaching a new 19-year high of 105.00 on Friday. The DXY appreciates the broader gains but requires further triggers to maintain strong. In the future, two significant events on Tuesday will keep investors occupied. First will be Fed Chairman Powell's speech, which will likely influence monetary policy action in June. The second significant event is the monthly US Retail Sales report, which is anticipated to increase by 0.7% from the previous reading of 0.5%.

 

In terms of the Swiss franc, Friday's Industrial Production data will be the focal point. The catalyst reached 7.3% the previous time. A greater-than-anticipated number will strengthen the Swiss franc against the U.S. dollar. 

USD/CHF

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