Tag Archives: 1) SNB and CHF

Gold price attracts buyers for the fourth consecutive day and climbs to over a one-week high. Geopolitical risks stemming from the Russia-Ukraine conflict benefit the safe-haven XAU/USD. Elevated US bond yields could underpin the US Dollar and cap the non-yielding yellow metal. Gold price (XAU/USD) adds to its intraday gains and climbs to a fresh one-and-half-week high, around the $2,664-2,665 area during the first half of the European session...

1730 GMT/1230 US Eastern time: Speech by member of the board of the Swiss National Bank Petra Tschudin and Thomas Moser, "The Swiss Repo Market: 25 Years of Success for the Financial Centre and the National Bank", Money Market EventPetra Tschudin is the a member of the Governing Board of the Swiss National Bankalso Head of Department III (Money Market and Foreign Exchange, Asset Management, Banking Operations and Information Technology, as well as the Singapore...

USD/CHF is in a strong uptrend which keeps making higher highs.  However it has reached overbought levels according to the RSI momentum indicator  This means bulls should be aware of the increased risk of pullbacks.  USD/CHF continues rising in its established uptrend but it has now reached overbought levels (above 70) according to the Relative Strength Index (RSI) momentum indicator. When this occurs it advises long-holders not to add to their...

EUR/CHF is trying to break out of a Triangle pattern.  If it succeeds it will probably lead to further downside towards the price objective for the pattern. EUR/CHF is attempting to break out of a Triangle pattern it has formed over the last three months (see chart below). EUR/CHF Daily Chart A bearish close on Tuesday will indicate a decisive breakout has happened and suggest the start of a likely strong decline.  The market activity prior...

USD/CHF gains ground to near 0.8730 in Friday’s early European session.  The Fed cut interest rates by a quarter point at the November meeting on Thursday.  The safe-haven flows could underpin the Swiss Franc.  The USD/CHF pair drifts higher to around 0.8730 during the early European session on Friday. The renewed Greenback demand provides some support to the pair. Traders brace for the advanced US Michigan Consumer Sentiment data for November...

USD/CHF might be developing a Bull Flag continuation pattern.  This suggests there will be an extension of the uptrend to upside targets higher.  USD/CHF – which looked as if it might be reversing trend and starting a new short-term downtrend at the start of the week – suddenly turned on a dime and spiked higher on Wednesday.  The pair rallied to a higher high, giving the established uptrend a shot in the arm. USD/CHF has since peaked and...

The US Dollar depreciates for the second consecutive day and approaches support at 0.8645. The focus today is on the US PCE Prices Index but the highlight of the week is Friday's NFP report. A break of 0.8645 would confirm a double top at 0.8700. The US Dollar is on the back foot on Thursday, with investors bracing for the release of October’s PCE Prices Index data. The USD/CHF is testing the support area at 0.8645 after being rejected at the...

Gold price attracts some dip-buying on Monday and draws support from a combination of factors.  Middle East tensions, US election jitters and a modest USD pullback seem to benefit the XAU/USD.  Bets for smaller Fed rate cuts and rising US bond yields might cap the upside for the precious metal. Gold price (XAU/USD) struggles to capitalize on its intraday bounce and remains below the $2,748-2,750 supply zone through the early part of the...

USD/CHF may appreciate further due to fading odds of bumper rate cuts by the Fed in 2024. The US Dollar receives support from market caution ahead of the US presidential election. The recent lower Swiss inflation rate increased the dovish sentiment surrounding the SNB. USD/CHF remains steady after registering losses in the previous session, maintaining its position above 0.8650 during Asian trading hours on Friday. This level is near its...

The US Dollar rolls through markets and strengthens against most major G20 currencies. US equities are falling further while markets calibrate the new normal for the Fed interest-rate outlook.  The US Dollar index adds even more gains to its October rally and trades in a crucial technical area.  The US Dollar (USD) speeds up its rally this Wednesday just ahead of the US Opening Bell, fueled by uncertainty ahead of the US presidential election...