The USD/CHF pair attracted some bids and strengthened near 0.8025 during the European trading session on Friday (August 29th). The Swiss Franc pair strengthened as the US Dollar (USD) traded slightly higher ahead of the US Personal Consumption Expenditures (PCE) Price Index data for July, which will be released at 12:30 GMT.
At the time of writing, the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, was slightly higher near 98.00.
Investors will be closely watching core PCE inflation data – which excludes volatile commodities such as food and energy – as this data is closely watched by Federal Open Market Committee (FOMC) members for interest rate decisions.
Core PCE inflation is expected to be higher at 2.9% year-on-year, compared to 2.8% in June. On a monthly basis, core inflation is expected to grow steadily at 0.3%. This inflation data will influence market expectations regarding the Federal Reserve's (Fed) monetary policy outlook.
Meanwhile, traders see an 85% chance that the Fed will cut interest rates by 25 basis points (bps) to 4.00%-4.25% at its September policy meeting, according to the CME FedWatch tool.
In the Swiss economy, Gross Domestic Product (GDP) slowed in the second quarter of this year, paving the way for the Swiss Central Bank (SNB) to adopt an ultra-loose monetary policy. Data released on Thursday showed that the Swiss economy grew by 0.1%, in line with expectations, slower than the 0.4% growth recorded in the previous quarter. (alg)
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...
Stocks rallied on Monday, boosted by a surge in Apple shares, as investors anticipated a possible end to the ongoing US government shutdown and a series of major corporate earnings reports and inflation data expected in the coming days. The Dow...
Oil prices settled at their lowest level since early May on Monday as investors weighed the potential for a global oversupply, with U.S.-China trade tensions adding to concerns about an economic slowdown and weakening energy demand. Brent crude...
Gold prices rose more than 2% on Monday (October 20th), boosted by expectations of further US interest rate cuts and continued demand for safe-haven assets, as investors awaited US-China trade talks and US inflation data this week. Spot gold rose...
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...
The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday.
"I think the...
The Federal Reserve will go into a policy meeting next week with its view of the economy obscured by a U.S. government shutdown that has suspended...