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On April 20th, six departments, including the Zhuhai Municipal Housing and Urban-Rural Development Bureau, issued a notice on optimizing and adjusting the citys real estate policies. The notice proposes optimizing housing provident fund loan policies. First, it increases the maximum housing provident fund loan amount. For eligible families with single or dual contributors, the maximum individual housing provident fund loan amount is increased from 800,000 yuan to 1 million yuan and from 1.3 million yuan to 1.5 million yuan, respectively. Second, it expands support for families with multiple children purchasing homes. For families with multiple children applying for a provident fund loan to purchase a second owner-occupied home, the loan amount can be increased by 20% on top of the available loan amount, but not exceeding the citys maximum provident fund loan limit. Third, it increases the upward adjustment ratio for loans to purchase green buildings. For employees who contribute to the housing provident fund and purchase commercial housing that meets the national standard for two-star green building or has been identified as a prefabricated building project, the loan amount can be increased by 20% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city; for those who purchase commercial housing that meets the national standard for three-star green building, the loan amount can be increased by 30% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city.CEO of chemical company Fertiglobe: Nitrogen fertilizer prices may rise further.Market news: The U.S. State Department announced the suspension of all consular services in Iraq and stated that some factions within the Iraqi government are providing cover for "Iranian-allian-linked Iraqi terrorist militias."April 20 - The Japan Meteorological Agency revised the magnitude of the earthquake that struck the northeastern coastal region of Japan to 7.7 and the depth to 20 kilometers.On April 20th, the Guangdong Provincial Party Committees Financial and Economic Affairs Commission held a meeting to analyze the economic situation in the first quarter and to plan and promote key projects for the next stage of economic work. Huang Kunming presided over the meeting, and Meng Fanli attended. The meeting emphasized the need to focus on the work in the second quarter and throughout the year, consolidating and expanding the positive momentum of the economy. It stressed the importance of comprehensively strengthening the foundation for industrial development, adhering to the principle of mutual promotion between industry and technology, and the coordinated development of manufacturing and service industries. This includes further strengthening pillar industries such as electronic information and new energy vehicles, accelerating the optimization and upgrading of traditional industries through technological innovation, brand cultivation, and standard leadership, strengthening the support of the service industry, and promoting the mutual achievement of a "manufacturing powerhouse" and a "service hub," thus better solidifying the "ballast stone" of the real economy. The meeting also emphasized the need to vigorously expand domestic and international markets, deepen the implementation of "Guangdong Trade Global," actively develop new forms and areas of foreign trade, and continue to successfully hold exhibitions such as the Canton Fair to better stabilize the international market.

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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