The USD/CHF pair tumbles to around 0.8030 during the early European session on Friday. Persistent trade tensions and Federal Reserve (Fed) policy uncertainty boost the safe-haven demand, supporting the Swiss Franc (CHF). The preliminary reading of the University of Michigan Consumer Sentiment will be the highlight later on Friday. Also, the US Building Permits and Housing Starts will be released.
Concerns over the economic impact of US President Donald Trump's tariff policies, the US fiscal and debt outlook, and the Fed's independence provide some support to the safe-haven assets like the CHF and act as a headwind for the pair. Trump said on Wednesday that he intends to send a letter telling more than 150 trade partners what tariff rate they will face.
Data release on Thursday indicated strength in the US economy. The US Initial Jobless Claims for the week ending July 12 came in at 221,000, marking a decline of 7,000 from the previous week, according to the Labor Department. Meanwhile, US Retail Sales rose more than expected in June, the US Census Bureau showed. Retail sales rose by 0.6% MoM in June versus -0.9% in May, beating the 0.1% estimate.
Strong US economic data supported the view that the Fed can afford to wait a while longer before cutting interest rates again, which might underpin the US Dollar (USD). Financial markets are now pricing in a September starting date for rate cuts, and Fed officials penciled in two easings later this year, according to Reuters.
Source: FXStreet
The Swiss Franc (CHF) weakens against the US Dollar (USD) on Tuesday, as traders flock to the Greenback in response to hotter-than-expected US inflation data. The Consumer Price Index (CPI) figures re...
The USD/CHF pair trades on a negative note near 0.7965 during the early European session on Tuesday. Persistent trade-related uncertainties and geopolitical risks boost the safe-haven flows, supportin...
USD/CHF remains subdued for the second successive session, trading around 0.7970 during the Asian hours on Monday. The pair struggled as the Swiss Franc (CHF) receives support from increased safe-have...
The USD/CHF pair edges higher to near 0.7980 during Asian trading hours on Friday. The Swiss Franc pair trades broadly stable in a risk-averse market mood, followed by fears of an increase in United S...
The US Dollar is featuring a moderate recovery on Thursday, paring some losses after the previous two days' reversal. The pair, however, remains trading near long-term lows, with upside attempts cappe...
Gold prices rose to a new daily high during the European session on Friday (July 18th), continuing their rebound from a low hit more than a week earlier. This increase was driven by a weakening US dollar following dovish remarks from Fed Governor...
The Hang Seng Index surged 327 points, or 1.3%, to close at 24,825 on Friday (July 18th), reversing two days of declines as all sectors rallied. The index hit a four-month high and rose 2.8% for the week, marking its second consecutive weekly...
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations between the US and the European Union. Reckitt...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...