• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The U.S. Department of Health and Human Services reversed its previous decision to lay off staff at the National Institute for Occupational Safety and Health (NIOSH), restoring hundreds of related positions.According to the Wall Street Journal, six federal prosecutors in Minnesota have resigned in connection with the Immigration and Customs Enforcement (ICE) shooting investigation.On January 14th, it was reported that on January 10th, the Guangzhou Futures Exchange (GFE), Fudan University, and the National Meteorological Information Center signed a tripartite cooperation framework agreement and held a symposium. Representatives from the three parties reached an important consensus on promoting innovative practices in "meteorology × finance" and developing weather-related derivatives. A GFE representative stated that as a crucial venue for risk management, the futures markets introduction of weather derivatives that meet market needs is of significant practical importance in helping weather-sensitive enterprises, such as those in the new energy sector, mitigate weather volatility risks and serve the development of new productive forces. As a vital national financial infrastructure, the GFE will leverage its experience in green innovation and development, deepen practical cooperation with all parties, actively promote the research and application of weather derivatives, and provide strong support for meteorological risk management and the construction of a green finance system.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.8% to 49,191.99 points, the S&P 500 fell 0.19% to 6,963.74 points, and the Nasdaq Composite fell 0.1% to 23,709.87 points. Salesforce fell more than 7%, and Visa fell more than 4%, leading the decline in the Dow Jones. The Wind U.S. Tech Big Seven Index fell 0.22%, with Facebook and Amazon falling more than 1%. Chinese concept stocks generally declined, with Brain Regeneration falling more than 26% and Pony.ai falling more than 9%. Concerns surrounding the independence of the Federal Reserve remain. 2. European stock indices closed mixed. Germanys DAX rose 0.06% to 25,420.66 points, driven by gains in defense stocks amid geopolitical tensions; Frances CAC40 fell 0.14% to 8,347.2 points, with support from bank stocks partially offsetting weakness in other sectors; the UKs FTSE 100 fell 0.03% to 10,137.35 points, dragged down by energy and financial sectors, reflecting market concerns about the UKs economic outlook. 3. US Treasury yields were mixed. The 2-year Treasury yield fell 0.19 basis points to 3.530%, the 3-year yield rose 0.12 basis points to 3.591%, the 5-year yield fell 0.17 basis points to 3.752%, the 10-year yield rose 0.40 basis points to 4.179%, and the 30-year yield rose 0.82 basis points to 4.837%. 3. International precious metals futures closed mixed. COMEX gold futures fell 0.44% to $4,594.40 per ounce, while COMEX silver futures rose 2.08% to $86.86 per ounce. Although geopolitical tensions, central bank gold purchases, and market uncertainty provided support for gold prices, signals from Federal Reserve officials that they would not cut interest rates for the time being suppressed trading based on expectations of a rate cut, leading to a slight decline in gold futures for the day. 4. The main WTI crude oil contract closed up 2.69% at $61.1 per barrel; the main Brent crude oil contract rose 2.43% to $65.42 per barrel. 5. London base metals traded mixed. LME tin rose 2.46% to $49,145.0/ton, LME aluminum rose 0.36% to $3,196.0/ton, LME lead rose 0.34% to $2,060.0/ton, LME copper fell 0.40% to $13,156.5/ton, LME zinc fell 0.44% to $3,202.0/ton, and LME nickel fell 1.61% to $17,600.0/ton.Eli Lilly (LLY.N) CEO: We need to know the number of patients receiving obesity drugs under the US Medicare drug plan, as well as the number of out-of-pocket patients outside the US, in order to forecast sales for 2026.

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

image.png