The USD/CHF pair weakened to around 0.8135 during the early European session on Tuesday (6/17). Persistent geopolitical risks in the Middle East provided some support to the Swiss Franc (CHF) against the US Dollar (USD). Traders are gearing up for the US Retail Sales data for May, due later on Tuesday.
The conflict between Israel and Iran has entered its fifth day despite global calls for negotiations and de-escalation. Late on Monday, US President Donald Trump called for the evacuation of the Iranian capital, Tehran, hours after urging the country's leaders to accept a deal to curb its nuclear program, despite Israel indicating that attacks would continue. Rising geopolitical tensions in the Middle East are likely to boost safe-haven flows, supporting the CHF in the near term.
However, signs of easing geopolitical tensions could drag the CHF lower and act as a tailwind for the pair. There was some hope on Monday that the situation would not worsen when Iran reportedly asked many countries to pressure Israel into a ceasefire.
The US Federal Reserve's interest rate decision will be the focus on Wednesday, which is widely expected to hold rates steady at its June meeting. Futures are pricing in two rate cuts by the end of the year, possibly starting in September, supported by softer inflation data last week.
Traders will take more cues from the FOMC Press Conference. "If the Fed is as dovish as we expect, the dollar will likely weaken again on the worsening fundamental backdrop in the US," said Win Thin, chief global market strategist at Brown Brothers Harriman. (alg)
Source: FXstreet
USD/CHF weakened after two days of gains, trading around 0.8060 during the Asian session on Monday (August 11th). The currency pair weakened amid increasing likelihood that the Fed will deliver multip...
The Swiss Franc (CHF) remains subdued against the US Dollar (USD) on Friday, with USD/CHF hovering in a familiar range established this week, as traders weigh the latest US tariff decision targeting S...
The USD/CHF pair traded with a negative bias for the third consecutive day, despite the lack of further selling amid mixed fundamental signals. Spot prices managed to hold above their weekly low throu...
USD/CHF weakened after two days of gains, trading around 0.8070 during the Asian session on Wednesday (August 6th). The currency pair depreciated as the US dollar (USD) weakened due to strong dovish s...
The Swiss Franc is the worst performer of the G8 currencies on Monday. Weak Swiss manufacturing data has offset the positive impact of the above-consensus inflation, while the US Dollar shows a mild p...
Oil prices remained largely unchanged after the US and China extended a tariff ceasefire until November 10, easing fears of a trade war that could depress energy demand. Brent fell to $66.27 and WTI to $63.51 per barrel. The market now awaits the...
Silver prices hovered at $37.7 per ounce on Tuesday, extending its strong momentum since the start of the year amid signs of strong industrial demand and the prospect of a Federal Reserve interest rate cut. China installed more than 93 gigawatts...
US stocks traded higher on Tuesday, with the three major averages up about 0.5%, as the latest CPI report bolstered expectations of a Fed rate cut next month. Headline annual inflation held at 2.7% in July, below the 2.8% forecast, while core...
US President Donald Trump, in his speech on Monday night (August 11th), expressed his determination to "liberate" Washington, D.C., from crime,...
On April 6, the Sunday after Donald Trump announced the "Liberation Day" tariffs, Treasury Secretary Scott Bessent joined the president on his...
U.S. President Donald Trump on Monday said he hopes China will "quickly quadruple" its soybean orders from American farmers, framing the move as a...
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the...