The USD/CHF pair regains positive traction following the previous day's directionless price move and jumps to over a one-week high, around the 0.8345-0.8350 area during the Asian session Thursday. Moreover, the fundamental backdrop supports prospects for an extension of a multi-day-old uptrend from sub-0.8200 levels, or a nearly three-week low touched on Monday.
The global risk sentiment gets a strong boost after the Court of International Trade on Wednesday blocked US President Donald Trump's proposed reciprocal trade tariffs. Wall Street futures and equities across Asia rise sharply in reaction to the court ruling, which, in turn, is seen weighing on the safe-haven Swiss Franc (CHF). This along with a strong follow-through US Dollar (USD) buying, turns out to be another factor acting as a tailwind for the USD/CHF pair.
In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, scales higher for the third straight day in the wake of the tariff-block news and hawkish FOMC Minuets released on Wednesday. Federal Reserve (Fed) officials agreed to maintain the wait-and-see approach on interest rates amid the uncertainty about the economic outlook and trade policies. This tempers hopes for more aggressive Fed rate cuts and continues to push the USD higher.
However, traders are still pricing in the possibility that the US central bank will deliver at least two 25 basis points (bps) rate cuts by the end of this year. This, in turn, holds back the USD bulls from placing aggressive bets and caps the USD/CHF pair. Market participants now look forward to the US economic docket featuring the release of the Prelim Q1 GDP print, the usual Weekly Jobless Claims, and Pending Home Sales data for short-term trading opportunities.
Source: Fxstreet
The Swiss Franc (CHF) strengthens modestly against the US Dollar (USD) on Wednesday, with USD/CHF trimming intraday gains as the Greenback softens after softer-than-expected US Producer Price Index (P...
The US dollar traded lower against the Swiss franc for the second consecutive day on Monday (September 8). A weak payrolls report released on Friday continued to weigh on the US dollar, as investors i...
The US dollar edged higher against the slightly weaker Swiss franc, as an unexpected contraction in Swiss consumer prices in August fueled speculation that the SNB will cut interest rates to negative ...
The USD/CHF advances for the third straight day, up by 0.57% on Tuesday trading at 0.8050 as risk aversion boosted the Greenback. Economic data revealed in the United States (US) was mixed, as busines...
The USD/CHF pair trades with caution near 0.8000 during the Asian trading session on Monday. The Swiss France pair struggles to gain ground as investors turn extremely cautious ahead of an array of Un...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...
Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation...
The University of Michigan (UoM) is expected to release the preliminary reading of its monthly Consumer Confidence Index for September on Friday....