Tag Archives: 1) SNB and CHF

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...

Overview: The US dollar is trading higher against all the G10 currencies today but the Norwegian krone. Norway’s central bank left policy on hold and warned that if the economy performs as expected, it does not anticipate a rate cut until next year. On the other hand, the Swiss National Bank surprised many with its second consecutive rate cut. The Swiss franc is the weakest of the major currencies, off about 0.70% against the dollar. The Bank of England is up next....

USD/CHF gained ground as FOMC left its benchmark lending rate in the range of 5.25%–5.50% on Wednesday. Powell stated, “We don’t see ourselves as having the confidence that would warrant policy loosening at this time.” Swiss Franc may see limited downside as SNB is unlikely to implement a rate cut in June. USD/CHF retraces its losses from the previous session after the hawkish hold from the US Federal Reserve (Fed). The Federal Open Market Committee (FOMC) left its...

In Friday's session, the USD/CHF recovered surging above the 0.8965 mark. Strong Nonfarm Payroll data from the US propelled the USD across the board. US Treasury yields increased while the odds of a cut in September by the Fed slightly declined. The USD/CHF pair is seeing a boost after updated Nonfarm Payroll (NFP) figures from the US were released on Friday, surpassing market expectations. As market bets on the Federal Reserve may turn more...

USD/CHF took a dip in Tuesday’s session and fell to 0.9110. Despite the Consumer Confidence index in the US and Housing prices exceeding expectations, the USD remains weak. The Federal Reserve maintains a cautious stance, asking the market for patience, which keeps the odds for rate cuts in June or July low. The USD/CHF pair is trading lower, despite optimistic signals from the US economy, specifically in the Housing market, and Consumer...

USD/CHF hovers below 0.9152, the highest since October reached on Monday. US Dollar strengthened as higher Retail Sales amplified expectations of the Fed prolonging higher policy rates. Swiss Franc faces challenges due to the likelihood of SNB implementing another rate cut in the June meeting. USD/CHF recovers its recent losses registered in the previous session, trading near 0.9120 during the early European hours on Tuesday. The strength of the US Dollar (USD)...

Canadian Dollar gives away gains as USD bounces up following strong Retail Sales data. Investors’ concern that Middle East conflict might escalate provides additional support to the safe-haven US Dollar. Oil prices have depreciated nearly 3.5% from early April highs, adding negative pressure to CAD. The Canadian Dollar (CAD) recovery attempt seen during Monday’s European session has been short-lived. The US Dollar has resumed its bullish...

The Pound Sterling faces pressure as geopolitical tensions improve the appeal for safe-haven assets. UK’s employment and inflation data will influence speculation over BoE rate cuts. The UK economy is on track to come out of a technical recession. The Pound Sterling (GBP) remains on the backfoot against the US Dollar in Monday’s early New York session. The near-term demand of the GBP/USD pair remains downbeat due to deepening Middle East...

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...

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...