Here is what you need to know on Tuesday, August 20:

Major currency pairs seem to have stabilized in the European morning on Tuesday as investors await the next catalyst. Eurostat will release revisions to July inflation data later in the session and Statistics Canada will publish Consumer Price Index data for July later in the day. Market participants will also pay close attention to comments from Federal Reserve (Fed) officials.

After starting the week under bearish pressure, the US Dollar (USD) continued to weaken against its major rivals in the second half of the day on Monday as the bullish action in Wall Street pointed to an improving risk mood. In the early European session, US stock index futures trade marginally higher on the day and the USD Index holds

The US Dollar Index consolidates it’s gains early Wednesday after rising 0.7% to a fresh three-month high near 105.00 on Tuesday. Eurostat will release fourth-quarter Gross Domestic Product (GDP) data in the European session and there won’t be any high-tier data releases from the US later in the day.

CHF struggles to find demand as a safe-haven on Friday. US Dollar Index pushes higher above the 98.50 mark. Nonfarm Payrolls in US is expected to come in at 160K in January. The USD/CHF pair closed the last four trading days in the positive territory and continued to edge higher on Friday to touch its best level since December 27th at 0.9772.

Being put on the currency manipulation watchlist by the United States will not change the Swiss National Bank’s (SNB) monetary policy, SNB Governing Board member Andrea Maechler said on Wednesday, per Reuters.

Major European stocks post modest losses on Wednesday. US Dollar Index clings to gains above 97.30. Coming up: Swiss National Bank’s (SNB) Quarterly Bulletin. The USD/CHF pair dropped to its lowest level since late August at 0.9798 on Wednesday but staged a technical recovery in the last hour. As of writing, the pair was up 0.05% on the day at 0.9808.

US Dollar Index erases daily recovery gains ahead of American session. European equity indexes stay in the negative territory. Coming up: Building Permits, Housing Starts and Industrial Production data from US. The USD/CHF lost its traction in the last couple of hours and retraced its daily recovery gains pressured by the sour market mood and the broad USD weakness.

In his prepared remarks delivered to pension managers on Thursday, Swiss National Bank Chairman Thomas Jordan said negative interest rates and readiness to intervene in the forex market was still essential to ease the pressure on the Swiss Franc.