SNB Sight Deposits: decreased by 2.4 billion francs compared to the previous week
2024-12-17
The sight deposits at the SNB decreased by 2.4 billion francs compared to the previous week.
SNB Slashes Policy Rate in Half
2024-12-12
Overview: The US dollar is mostly softer today, but the tone is mostly one of consolidation. The Swiss National Bank surprised with a 50 bp cut and the franc is the only G10 currency that has not edged up against the greenback today. Australia reported a stronger than expected employment report. This boosted Australian yields and the Aussie, which is the strongest of the G10 currencies. Shortly, the ECB is expected to announce a quarter-point rate cut and signal additional cuts next year through the staffs updated forecast and President Lagarde’s comments at the press conference that follows the meeting. Emerging market currencies are mostly quiet +/- 0.15% but the Russian ruble and South African rand, which are stronger. Many of the large bourses in the Asia Pacific region rallied
Gold price weekly uptrend remains uninterrupted despite positive risk tone
2024-11-21
Gold price attracts buyers for the fourth consecutive day and climbs to over a one-week high. Geopolitical risks stemming from the Russia-Ukraine conflict benefit the safe-haven XAU/USD. Elevated US bond yields could underpin the US Dollar and cap the non-yielding yellow metal.
USD/CHF Price Prediction: Surges in bullish breakout from multi-week range
2024-10-04
USD/CHF breaks out of the range it has been straight-jacketed in for weeks.Â
The pair has probably started a new uptrend with odds now favoring the acquisition of bullish targets.Â
USD/CHF decisively breaks out of the top of its multi-week range, probably ending its protracted sideways market trend. A close clearly above 0.8540 and the range ceiling would cement bullish expectations. Â
The move means the pair has probably changed its short-term trend from range-bound to bullish, and since it is a fundamental principle of technical analysis that “the trend is your friend” the odds favor a continuation higher.
USD/CHF 4-hour ChartÂ
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USD/CHF is now likely to reach an upside target at a minimum of 0.8617 (August 14 swing low), or 0.8622 (Fibonacci 61.8% extrapolation
USD/CHF Price Prediction: Rising up within range-bound consolidation
2024-10-01
USD/CHF is rising within a range-bound market.Â
It has encountered resistance at a cluster of MAs but will probably continue higher.
USD/CHF is rising up within its sideways range. It has reached a cluster of major Moving Averages which are providing firm resistance.Â
USD/CHF 4-hour ChartÂ
The trend is neither up nor down but rather sideways and so the oscillating character of the market is likely to extend, given the principle that “the trend is your friend.”
The blue Moving Average Convergence Divergence (MACD) momentum indicator line recently crossed above the red signal line, providing a buy signal. MACD is a more reliable indicator within sideways markets.Â
USD/CHF will probably continue higher. A break above the 0.8480 high would lead to an extension up to