EUR/USD 1.15867
-0.047%
Gold 4377.32
1.137%
Oil 89.632
0.291%
USD/JPY 158.908
-0.790%
GBP/USD 1.34883
-0.198%
GBP/JPY 214.345
-0.982%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
U.S. Treasury Department: Issues general license to Venezuela.September 3rd - The Federal Reserves Beige Book showed that U.S. economic activity has grown moderately since early July. Of the 12 Fed districts, 10 recorded slight to moderate growth, while 2 remained unchanged. Consumer spending increased slightly, but consumer price sensitivity increased, with high-end consumption remaining strong; auto sales were sluggish due to weak confidence, high oil prices, and rising financing costs. Manufacturing activity rebounded in most districts, with some reporting strong demand for defense and data center-related orders. The job market grew more slowly, with only a slight overall increase. Labor demand was relatively good in manufacturing and construction, but demand declined in retail and hospitality. On the price front, most districts reported moderate price increases, with cost pressures from energy, transportation, raw materials, and tariffs persisting. Businesses expect a generally positive economic outlook but remain concerned about uncertainties surrounding energy prices, policy, and international conflicts.The Federal Reserves Beige Book: Overall employment rose slightly, with small increases in three districts, slight increases in four districts, and no change in five districts.The Federal Reserves Beige Book: The overall outlook for the coming months is positive, but sentiment is mixed across sectors, with respondents reporting greater uncertainty about the impact of rising energy prices.On September 3, Venezuelan Acting President Delcy Rodríguez met with U.S. Energy Secretary Wright on September 2. Following the meeting, the two countries formally signed several cooperation agreements. It is understood that the Venezuelan government signed agreements with several companies, including Chevron, regarding oil expansion projects. Recently, U.S. President Trump announced on social media that the U.S. had reached an agreement with Venezuela, gaining "majority control" over Venezuelas proven oil reserves of over 65 billion barrels. Venezuelan Acting President Delcy Rodríguez stated that the oil cooperation agreement with the U.S. will last for 25 years, with the goal of increasing crude oil production to 1.5 million barrels per day and maintaining Venezuelas autonomy over its natural resources.

The USD/CHF exchange rate fluctuates at 0.94 prior to US five-year inflation projections

Alina Haynes

Dec 08, 2022 15:27

USD:CHF.png

 

During the Tokyo session, the USD/CHF pair is oscillating near the round-level barrier of 0.9400 as investors await the release of the United States' five-year consumer inflation forecasts for more direction. The Swiss franc is attempting to surpass the immediate resistance level of 0.9410, but the risk-on mentality stops the US Dollar from advancing further.

 

In the framework of the risk appetite theme, the US Dollar Index (DXY) is hitting resistance close to the significant level of 105.20. In the meantime, 10-year US Treasury yields have attempted to recover after falling to approximately 3.40 percent on Wednesday. The yield on long-term US Treasury bonds has rebounded to approximately 3.45%.

 

The growing unpredictability around the Federal Reserve's (Fed) policy outlook has caused market participants to feel anxious. As a result of favorable U.S. economic data, investors anticipate future rate hikes from the Federal Reserve to combat rising inflationary pressures. Moreover, it will compel a recession, as businesses will lower or maintain their current level of economic activity in response to rising interest liabilities.

 

At a Goldman Sachs financial conference, Bank of America (BoA) CEO Brian Moynihan informed investors that the United States economy will see "moderate contraction" in the first quarter of 2023.

 

Friday's release of US Consumer Inflation Expectations for the Next Five Years will continue to be closely monitored by investors.

 

Regarding the Swiss franc, investors are shifting their focus to the Swiss National Bank's (SNB) interest rate announcement scheduled for next week. As inflationary pressures are moderately over the target rate, it is predicted that SNB Chairman Thomas J. Jordan would continue to loosen monetary policy. This week, the Swiss Unemployment Rate fell to 2.1%, which is lower than the previous data of 2.0% and the consensus estimate of 2.2%.

Suggestion