Swiss Franc is vulnerable as inflation data continues to undershoot official forecasts. The SNB expected inflation to average 1.9% in 2024 in its December forecast, but it currently sits at 1.2%. The latest Producer and Import Prices showed the tenth month of deflation in a row. The Swiss Franc (CHF) trades flat at the end of the trading week – off by barely a few hundredths of a percent in its most traded pairs. The overal fundamental...
Read More »EUR/CHF Price Analysis: Pullback possible amid mixed signals
EUR/CHF touches 50-week SMA and recoils RSI on daily chart indicates possibility of a pullback. Symmetrical Triangle has formed on 4-hour chart with breakout likely. EUR/CHF has rebounded from the 0.9254 December 2023 lows and rallied up to resistance from a key barrier in the form of the 50-week Simple Moving Average (SMA). The pair is probably still in a long-term downtrend despite recent strength. Euro to Swiss Franc: Weekly chart The price has respected the...
Read More »US Dollar enters fourth day of consecutive losses ahead of Powell testimony
Share: The US Dollar trades softer across the board on Wednesday. US Federal Reserve Chairman Jerome Powell is heading to Capitol Hill for his semi-annual testimony. The US Dollar Index snaps an important support, looking bleak ahead of the ECB decision and NFP data. The US Dollar (USD) is facing some firm selling pressure on Wednesday...
Read More »Swiss Franc extends losses on Swiss interest rate outlook
The Swiss Franc edges lower against the US Dollar on the back of relatively low inflation in Switzerland, which indicates interest rates remaining low. SNB’s Jordan says Swiss Franc rising in real terms is hurting Swiss exporters, SNB unlikely to pursue CHF-strengthening policies. USD/CHF hits resistance at falling trendline, 50-week SMA. The Swiss Franc (CHF) edges lower against the US Dollar (USD) on Wednesday as traders continue to bet on a less-inflationary...
Read More »USD/CHF Price Analysis: Trades back and forth around 0.8800
USD/CHF trades sideways near 0.8800 as the focus shifts to US economic data. The Swiss economy is expected to have growth at a moderate pace of 0.1% in the last quarter of 2023. Fed policymakers support holding interest rates unchanged in the range of 5.25%-5.50%. The USD/CHF is stuck in a tight range near the round-level resistance of 0.8800 since Friday’s trading session. The Swiss Franc asset struggles to find a direction as investors await the United States core...
Read More »EUR/CHF hits ten-week highs above 0.9550 as Franc continues to soften
EUR/CHF up over 3% from December’s lows. ECB President Lagarde looks ahead to growth rebound. Swiss Franc is broadly weaker across the majors market. EUR/CHF knocked into fresh multi-month highs on Monday as the pair steps into a ten-week peak above 0.9550. The Swiss Franc (CHF) has depreciated notably against the majority of its major currency peers in 2024, and is down 2.88% YTD against the Euro (EUR). European Central Bank (ECB) President Christine Lagarde hit...
Read More »Forex Today: Pound Sterling weakens on soft UK inflation, US Dollar consolidates gains
Here is what you need to know on Wednesday, February 14: The US Dollar Index consolidates it’s gains early Wednesday after rising 0.7% to a fresh three-month high near 105.00 on Tuesday. Eurostat will release fourth-quarter Gross Domestic Product (GDP) data in the European session and there won’t be any high-tier data releases from the US later in the day. Several Federal Reserve (Fed) policymakers, including Chicago Fed President Austan Goolsbee and Atlanta Fed...
Read More »Gold price consolidates post-US CPI losses, seems vulnerable near two-month low
Gold price hits a fresh two-month low amid bets that the Fed will keep rates higher for longer. The expectations were reaffirmed by the stronger-than-expected US CPI released on Tuesday. A softer risk tone lends support to the safe-haven XAU/USD and helps limit any further losses. Gold price (XAU/USD) extends its sideways consolidative price move and remains depressed below the $2,000 psychological mark, or a two-month low heading into the European session on Monday....
Read More »USD/CHF heading for 0.8500 as Swiss Franc climbs into four-month high against Greenback
Share: The Swiss Franc is testing further high ground against the US Dollar on Thursday. Risk appetite is cranking up after US inflation data tips lower. US Dollar declines across the board ahead of the holiday market wrap. The USD/CHF slipped through the 0.8600 handle on Thursday as broader markets push over the US Dollar (USD), bolstering...
Read More »SNB’s Jordan: Another interest rate move is possible if current monetary policy is not restrictive enough
Share: In an interview with local television station TeleZueri, Swiss National Bank (SNB) Chairman Thomas Jordan said that he doesn’t rule out more interest rate hikes ahead. Jordan said, “if we see that the current monetary policy is not restrictive enough to ensure price stability in the long term, then we will have to make another interest rate move.” [embedded content]...
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