USD/CHF licks US inflation-induced wounds below 0.9300 as Treasury bond yields rebound – by anilpanchal7 USDCHF Inflation RiskAppetite YieldCurve Currencies
the Federal Reserve . Also likely to have probed the Swiss Franc bears could be the latest chatters surrounding the US-China ties and a light calendar.President Raphael Bostic mentioned that he would be comfortable moving at 25 basis points if conversations with business leaders are consistent with slowing inflation. Fed’s Bostic previously stated that it is ''fair to say that the Fed is willing to overshoot.
The same could be witnessed in the previous comments from Federal Reserve Bank of Philadelphia President Patrick Harker and Richmond Federal Reserve President Thomas Barkin. On the contrary, St. Louis Federal Reserve leader James Bullard also said that the most likely scenario is inflation remaining above 2%, so the policy rate will need to be higher for longer.
It’s worth noting that headlines suggesting fresh US-China tussles also underpinned the USD/CHF consolidation during a sluggish session. That said, Reuters cites anonymous sources to state that the White House will discuss a recent crackdown on exports of chip-making tools to China with Japanese and Dutch officials during upcoming visits. The news also mentions that the White House Officials will not result in "immediate" pledges from the two countries to impose similar curbs.
While portraying the market’s mood, the S&P 500 Futures print mild losses even if Wall Street closed with gains while the US 10-year Treasury yields lick their wounds near 3.46% by the press time, following a slump to the monthly low of 3.44% the previous day. matched 6.5% YoY forecasts for December, versus 7.1% prior. More importantly, CPI ex Food & Energy also proved the market consensus of 5.7% YoY figure right, compared to 6.0% previous readings.
That said, the recent short-covering appears elusive ahead of China trade numbers for December and the first prints of the US Michigan Consumer Sentiment Index for January, as well as the 5-year US Consumer Inflation Expectations.A daily closing beyond the seven-week-old resistance line, around 0.9325 by the press time, becomes necessary for the
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