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Data on Tuesday showed Swiss inflation falling to its lowest level level since COVID.
Swiss National Bank (SNB) board member Petra Tschudin commented on May inflation data.
Head of the Bank, Chair Martin Schlegel, has repeatedly emphasised that individual month negative numbers are a possibility and that the Band doesn’t necessarily have to react to them.
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The SNB next meet on June 19:
Negative inflation is being caused largely by the strong Swiss franc, for example the price of imported goods by 2.4%, along with the drop in energy prices.
This article was written by Eamonn Sheridan at www.forexlive.com.
A Barclays note says they are turning less cautious on oil
This article was written by Eamonn Sheridan at www.forexlive.com.
Japan is set to launch a new think tank to examine how economic security concerns influence supply chains and related sectors, according to Nikkei. The move comes amid growing unease over trade tensions and the situation around Taiwan.
The think tank will operate under the National Security Secretariat (NSS) and form part of a broader strategy to strengthen Japan’s ability to manage economic security risks. Details of the initiative will be included in the government’s upcoming annual economic and fiscal policy guidelines, expected later this month.
NSS will “examine risks faced by industry, strengthen economic intelligence capabilities and comprehensive think tank functions, and reinforce critical infrastructure.”
Info via Nikkei (Japanese media)
This article was written by Eamonn Sheridan at www.forexlive.com.
White House says the boosted steel tariffs will hit at 1201 am on Wednesday, June 4, 2025.
This article was written by Eamonn Sheridan at www.forexlive.com.
Daily Pivots: (S1) 1.7577; (P) 1.7617; (R1) 1.7652; More… EUR/AUD’s rebound from 1.7245 continues today and intraday bias stays on the upside. . Firm break of 38.2% retracement of 1.8554 to 1.7245 at 1.7745 will solidify the case that fall from 1.8554 has completed as a correction. Next target is 61.8% retracement at 1.8054. On […]
The post EUR/AUD Daily Outlook appeared first on Action Forex.
Markets:
The US dollar put in a solid performance today and I can pin it on a few things. The rebound was mainly a retracement of yesterday’s fall and that helps to encapsulate it. 1) Yesterday there were some real worries about Russian retaliation from the drone attacks, they haven’t launched any nuclear weapons so that’s good so far. 2) The China-US trade talk is gathering momentum with diplomats talking today and the White House indicating a looming call between Trump and Xi. 3) Fears about Trump re-escalating the trade war after the TACO fiasco are fading, as he appears to be sticking to his plan. 4) JOLTS job openings improved in April despite Liberation Day angst.
The main beneficiary was USD/JPY as it climbed 135 pips to 144.05, wiping out yesterday’s decline. The pair bottomed early in Europe and gains were steady after that, finishing near the highs of the day.
The euro similarly slid and mostly erased yesterday’s gains to leave it largely flat on the week. The market will wait on trade headlines, the ECB and Friday’s non-farm payrolls report.
The dollar gains against the commodity currencies were subdued as the same trade sentiment helped to lift commodities priced and equities. Futures had been solidly negative in Europe but the main US indexes steadily gathered momentum with chip names leading the way.
This article was written by Adam Button at www.forexlive.com.