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The U.S. Embassy in Oman has instructed all staff and all U.S. citizens to take shelter in place while “continuing activity” in the vicinity of Muscat until further notice.March 1st - On the afternoon of February 28th local time (early morning of March 1st Beijing time), the UN Security Council held an emergency meeting on the situation in Iran, where representatives from Iran and the United States clashed. Irans Permanent Representative to the UN, Illavani, condemned the deliberate aggression of the United States and Israel, which has resulted in the deaths of hundreds of civilians, and accused the US and Israel of war crimes and crimes against humanity. US Permanent Representative to the UN, Waltz, countered that Irans threatening activities directly jeopardize the interests of the United States and its partners and allies, and that the actions of the US and Israel are in accordance with the UN Charter. At the meeting, Illavani demanded that the US representative "maintain courtesy" towards Iran.On March 1st, it was reported that Hangzhou Wahaha Precision Machinery Co., Ltd. issued a dissolution notice on February 24th, 2026, officially entering liquidation proceedings. Employee labor contracts terminated on February 28th. The company is wholly owned by Wahaha Commercial Holdings Co., Ltd., and its actual controller is Zong Fuli. It previously undertook the groups intelligent technology, robotics R&D, and intelligent equipment manufacturing businesses. It is understood that Wahaha Precision Machinery was established in 2011, with 281 and 261 employees covered by social security in 2023 and 2024, respectively. The reason for this dissolution is a resolution, and the head of the liquidation team is Yan Xuefeng, a core executive of the Hongsheng Group under Zong Fuli. Sources close to Wahaha indicated that this move differs from the diversification strategy during Zong Qinghous era; Zong Fuli intends to divest non-core businesses and focus resources on the core food and beverage business.Hong Kong Financial Secretary Paul Chan Mo-po stated today (March 1st) that while direct trade and investment between Hong Kong and Iran are limited, the conflict has created significant uncertainty globally. He estimated that the Middle East conflict has led to greater volatility in financial markets, potentially causing faster capital flows and uncertainty. Local funds may seek a "safe haven" in Hong Kong, and the Hong Kong SAR government is prepared to carefully manage financial risks, with sufficient contingency plans in place. He pointed out that the conflict could have a short-term impact on gold and oil prices, as well as international trade and transportation costs, and the SAR government has been continuously assessing the associated risks.Market news: Nvidia (NVDA.O) and global telecom leaders have pledged to build 6G based on an open and secure native AI platform.

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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