USD/CHF remained depressed near the 0.8360 level on Thursday, extending its consolidation in this week's range. The pair struggled to gain traction amid mixed US economic data and a resilient Swiss economy.

In the United States, retail sales in April rose by 0.1% to $724.1 billion, slightly above market expectations for an unchanged reading, while the previous month's reading was revised up to 1.5% from 1.4%. However, the Producer Price Index (PPI) for final demand rose only 2.4% year-on-year, falling below the 2.5% forecast and down from 2.7% in March. This marked a significant slowdown in factory inflation, raising concerns about weakening price pressures. The lower inflation reading has reinforced expectations that the Federal Reserve (Fed) may need to ease policy further, which has pressured the US Dollar Indx (DXY) below the 101.00 mark.

Meanwhile, the Swiss economy grew by 0.7% in the first quarter, up from a revised 0.5% expansion in Q4 2024. This marked the strongest quarterly growth since early 2023, driven mainly by the services sector. However, inflationary pressures remained subdued, with the country's producer and import prices falling by 0.5% year-on-year in April, deepening from a 0.1% decline in March, reflecting a continuing deflationary trend. (Newsmaker23)

Source: FXstreet