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Futures News, September 4th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes on September 4th: 1. Pulp futures warehouse receipts: 398,188 tons, an increase of 1,000 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 7,400 tons, an increase of 1,000 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 23,770 tons, an increase compared to the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 2,730 tons, down 1,000 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 26,100 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 8,330 tons, down 2,000 tons from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.Futures News, September 4th: On September 4th, the Shanghai Futures Exchanges (SHFE) data on precious metals and non-ferrous metals warehouse receipts and changes are as follows: 1. Copper futures warehouse receipts: 25,781 tons, a decrease of 1,777 tons from the previous trading day; 2. Aluminum futures warehouse receipts: 223,717 tons, a decrease of 4,427 tons from the previous trading day; 3. Zinc futures warehouse receipts: 95,367 tons, a decrease of 625 tons from the previous trading day; 4. Lead futures warehouse receipts: 57,742 tons, a decrease of 51 tons from the previous trading day; 5. Nickel futures warehouse receipts: 99,303 tons, a decrease of 294 tons from the previous trading day; 6. 1. Tin futures warehouse receipts: 4,657 tons, down 8 tons from the previous trading day; 2. Alumina futures warehouse receipts: 250,779 tons, up 1,197 tons from the previous trading day; 3. Alumina futures factory warehouse receipts: 9,300 tons, unchanged from the previous trading day; 4. Gold futures warehouse receipts: 114,858 kg, unchanged from the previous trading day; 5. Silver futures warehouse receipts: 1,406,781 kg, up 6,846 kg from the previous trading day; 6. International copper futures warehouse receipts: 7,447 tons, up 26 tons from the previous trading day.September 4th - Data released by TravelSky shows a significant increase in domestic flight bookings for the Mid-Autumn Festival and National Day holidays. As of now, domestic flight bookings for travel dates from September 25th to October 7th have exceeded 3.83 million, representing a year-on-year increase of approximately 17%; international flight bookings have exceeded 1.77 million, representing a year-on-year increase of approximately 11%.September 4th - U.S. retail diesel prices rose to a record high, potentially fueling energy-driven inflation as the wars between Iran and Russia disrupt energy markets. With global supply shortages persisting and the peak demand season approaching, data from the American Automobile Association (AAA) showed that the average price of diesel across the U.S. rose to $5.85 per gallon on Thursday, surpassing the peak reached in June 2022. The rising diesel prices will not only increase the burden on consumers but also pose political challenges to the White House ahead of the U.S. midterm elections, which are just two months away. Furthermore, the continued rise in diesel prices could further hinder the Federal Reserves efforts to curb inflation. In recent weeks, Federal Reserve officials have signaled differing opinions on the necessity of raising interest rates, with the next Fed meeting scheduled for mid-September.On September 4th, three senior Iranian sources stated that the effects of US sanctions and blockades against Iran are beginning to emerge. In recent weeks, the US has sought to further increase economic pressure on Tehran in an attempt to force concessions from Iran in future negotiations. The six-month-long conflict has so far failed to compel Iran to make any of the concessions the US seeks. The sources said that although Iran has managed to circumvent sanctions for decades, recent US measures have made Irans situation more vulnerable. Iran now has only a few channels left to obtain foreign exchange or purchase goods. The sources specifically pointed out that the US attempt to cut off Irans long-standing international financing networks poses a real and imminent threat to Iran. If an economic war successfully breaks the months-long stalemate, it will boost the confidence of US policymakers. However, Iran has also warned that it may respond to economic pressure with military escalation, making the situation even more risky at this critical juncture.

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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