The Swiss National Bank (SNB) Chairman Thomas Jordan on Thursday acknowledged difficulties that the strong Swiss Franc is causing for Swiss industry, which is already dealing with weaker demand from other European countries, per Reuters.  

Key quotes

The mandate of the SNB is to maintain price stability—a crucial precondition for society and a good functioning economy. Price stability is a crucial precondition for prosperity.Germany and Europe are the main markets for industry. If the growth is weak there, this automatically affects demand for our industrial goods. The exchange rate … does not make the situation easier. It makes it difficult for the industry, 

Market reaction

At the time of press, the USD/CHF pair was down 0.03% on the

Russia carried out several air attacks on Ukraine this week, costing Moscow an estimated £1.1 billion. Meanwhile, Ukraine has warned it is closely watching on its border with Belarus after a recent buildup of troops there, according to Sky News. 

Last week, Kyiv’s foreign ministry accused Minsk of concentrating a "significant number of personnel" in the Gomel area near Ukraine’s northern border "under the guise of exercises." 

Market reaction

At the time of writing, the gold price (XAU/USD) is trading 0.12% lower on the day to trade at $2,518. 

Risk sentiment FAQs

In the world of financial jargon the two widely used terms “risk-on” and “risk off” refer to the level of risk that investors are willing to stomach during the period

USD/CHF loses traction around 0.8590 in Thursday’s early European session, down 0.30% on the day. 
The US Fed is expected to cut rates more aggressively beginning in September.
Strong safe-haven demand benefits the Swiss Franc against the Greenback. 
The USD/CHF pair drifts lower to near 0.8590 during the early European session on Thursday. The Swiss Franc (CHF) gains traction from the unwinding of carry trades and escalating geopolitical tensions in the Middle East. Investors await the weekly US Initial Jobless Claims on Thursday for fresh impetus.Investors have fully expected the US Federal Reserve (Fed) to start easing its monetary policy in September, with 50 basis points (bps) cuts in both September and November, and another

USD/CHF holds positive ground near 0.8840 in Thursday’s early European session. 
Fed’s Waller said that central bank is nearing rate cuts if there are no major surprises in inflation, employment data.
The rate cuts expectation by the SNB might drag the US Dollar lower. 
The USD/CHF pair trades on a positive note around 0.8840, snapping the two-day losing streak on Thursday during the early European trading hours. The modest rebound of the US Dollar (USD) provides some support to the pair. Looking ahead, traders will take more cues from the weekly Initial Jobless Claims and Philly Fed Manufacturing Index. The recent dovish comments from Federal Reserve (Fed) officials boost bets of a US interest rate cut in September and might cap the upside