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The Iranian Revolutionary Guard launched a devastating missile and drone strike on fighter bunkers and large aircraft parking aprons at a U.S. military base in Azraq, Jordan.July 18th - According to reports from Kyodo News and other media outlets, Apple Inc. raised the prices of its iPhones in Japan on the 17th due to the depreciation of the yen and soaring semiconductor prices. The report indicates that, according to Apples official Japanese website, the official prices of multiple iPhone models have increased across the board. Among them, the higher-priced iPhone 17 Pro Max increased from 194,800 yen to 214,800 yen, an increase of 20,000 yen (approximately 834.6 yuan), or about 10.3%. Industry analysts believe that Apple may have adjusted the prices of its products due to exchange rate fluctuations.On July 18th, several foreign institutions expressed optimism about Chinas AI industry chain, noting that investing in it has become a global consensus. Data shows that China currently produces over 1.5 billion chips daily, and its large-scale models handle trillions of words daily, ranking first in the world. This year, the growth rate of Chinas core AI industry is expected to continue exceeding 30%. A recent industry research report from Goldman Sachs points out that the current total market capitalization of Chinas AI sector is approximately $4 trillion, indicating significant growth potential compared to its own industrial advantages. UBS, in its recent China equity strategy report, also noted that demand for AI technology components in China remains very strong, with orders already booked until the end of 2027.The National Highway Traffic Safety Administration (NHTSA) has announced that Ford is recalling 387,911 vehicles in the United States because seats may shift unexpectedly and fail to properly restrain occupants in a collision, increasing the risk of injury.On July 18th, according to the Financial Times, the UK Financial Conduct Authority (FCA) released updated regulatory data this week on short sellers bets on UK listed companies under new rules. The data contained several obvious errors, raising questions about the quality of information provided under the new disclosure regime. Previous regulations required the public disclosure of the specific names of hedge funds and investors holding significant short positions, but the new rules have removed this requirement. Instead, the regulator will now disclose the total short positions for each stock in an aggregated manner. The FCA released this data after the new rules came into effect. However, according to an analysis by data provider Breakout Point, the new information released by the FCA contains several obvious errors. Some positions were subsequently deleted or altered without leaving any record of the changes. The data also includes positions from several years ago, which are highly unlikely to still exist. Ivan Kosovich, founder of Breakout Point, stated that initial problems might be understandable and the situation is improving, but "hidden alterations" in official market records should not become the norm.

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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