The Swiss Franc is one of the strongest G8 performers, amid higher demand for safe havens as risk aversion increased during Tuesday's European market session. The USD/CHF, as a result, has extended its decline to fresh 14-year lows at the 0.7900 area.
US President Trump's comments highlighting the challenges to cut a trade deal with Japan and Treasury Secretary Bessent's threats of higher tariffs from July 9 have crushed risk appetite on Tuesday.
In the US, the uncertainty about Trump's sweeping Tax bill, which is expected to add another $3.3 trillion to an already high US debt load, is feeding concerns about and undermining the US Dollar's safe-haven status.
Macroeconomic data from Switzerland has been mixed. Retail sales remained flat in May, against expectations of a 0.8% increase, while April's reading was downwardly revised. Adjusted for the effects of sales and holidays, however, retail consumption fell 0.8% in May.
These figures have been offset by a sharp improvement in manufacturing activity. The SVME PMI rose to 49.6 in June, after a 42.1 reading in the previous month and beating expectations of a 44.0 reading.
Later today, Fed Chairman Powell will speak at a central bankers' summit in Sintra, and the US JOLTS Job Openings will kick off a string of US labour indicators this week, ending with Thursday's Nonfarm Payrolls Report. These figures will provide further clues on the next Fed decisions and set the US Dollar's direction.
Source: Fxstreet
USD/CHF continues to trudge its way through familiar technical territory, with price action holding stubbornly just south of the 0.8000 major handle. The Swiss National Bank (SNB) continues to fight b...
The USD/CHF pair demonstrates strength near its over two-week high around 0.8000 during Friday's late Asian session, posted on Thursday. The Swiss Franc pair gained sharply on Thursday as the US Dolla...
The US Dollar rally against the Swiss franc was capped at 0.7970 on Monday, and the pair retreated to levels right below 0.7945 as market sentiment deteriorated during the European Session, with all e...
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...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned,...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings.
The pan-European Stoxx 600 was 0.3% lower...
Chicago Federal Reserve President Austan Goolsbee on Thursday said the lack of official data on inflation during the government shutdown...
Asian stocks slipped at the open on Friday (November 7), following a choppy session on Wall Street. The MSCI Asia Pacific Index fell about 0.2%, led...