Category Archive: 1) SNB and CHF

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USD/CHF Price Forecast: Trades sideways below 0.8850

2024-11-21

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2024-11-21

USD/CHF trades in a tight range below 0.8850 as investors seek fresh Fed interest rate cues. Donald Trump’s economic agenda will be inflationary for the US economy. Investors await flash US S&P Global PMI for November and SNB Schlegel’s speech, which are scheduled for Friday. The USD/CHF pair consolidates in a tight range below 0.8850 in European trading hours on Thursday. The Swiss Franc pair trades sideways as investors look for fresh cues...

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EUR/CHF: SNB policy rate can go negative again – ING

2024-11-21

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2024-11-21

EUR/CHF remains on the low near 0.93, ING’s Chris Turner notes.   EUR/CHF to grind towards 0.92 “In August we had felt that EUR/CHF would stay offered for the rest of the year and recent events only add to that conviction.” “What interests us is whether the Swiss National Bank will take rates below 0.50% in this easing cycle (we think not). And spread compression should weigh on EUR/CHF as the ECB cuts rates 150bp into next summer.” “Expect...

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Gold price weekly uptrend remains uninterrupted despite positive risk tone

2024-11-21

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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. Gold price (XAU/USD) adds to its intraday gains and climbs to a fresh one-and-half-week high, around the $2,664-2,665 area during the first half of the European session on...

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CHF traders note – Two Swiss National Bank speakers due Thursday, November 21

2024-11-21

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2024-11-21

1730 GMT/1230 US Eastern time: Speech by member of the board of the Swiss National Bank Petra Tschudin and Thomas Moser, "The Swiss Repo Market: 25 Years of Success for the Financial Centre and the National Bank", Money Market EventPetra Tschudin is the a member of the Governing Board of the Swiss National Bankalso Head of Department III (Money Market and Foreign Exchange, Asset Management, Banking Operations and Information Technology, as well as...

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SNB Sight Deposits: decreased by 0.1 billion francs compared to the previous week

SNB Sight Deposits vs. EUR/CHF
The sight deposits at the SNB decreased by 0.1 billion francs compared to the previous week.

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USD/CHF Price Forecast: Reaches overbought levels

2024-11-15

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2024-11-15

USD/CHF is in a strong uptrend which keeps making higher highs.  However it has reached overbought levels according to the RSI momentum indicator  This means bulls should be aware of the increased risk of pullbacks.  USD/CHF continues rising in its established uptrend but it has now reached overbought levels (above 70) according to the Relative Strength Index (RSI) momentum indicator. When this occurs it advises long-holders not to add to their...

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EUR/CHF Price Forecast: Attempting a bearish breakout from a Triangle pattern

2024-11-12

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2024-11-12

EUR/CHF is trying to break out of a Triangle pattern.  If it succeeds it will probably lead to further downside towards the price objective for the pattern. EUR/CHF is attempting to break out of a Triangle pattern it has formed over the last three months (see chart below). EUR/CHF Daily Chart A bearish close on Tuesday will indicate a decisive breakout has happened and suggest the start of a likely strong decline.  The market activity prior to...

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USD/CHF edges higher above 0.8700 amid renewed US Dollar demand

2024-11-08

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2024-11-08

USD/CHF gains ground to near 0.8730 in Friday’s early European session.  The Fed cut interest rates by a quarter point at the November meeting on Thursday.  The safe-haven flows could underpin the Swiss Franc.  The USD/CHF pair drifts higher to around 0.8730 during the early European session on Friday. The renewed Greenback demand provides some support to the pair. Traders brace for the advanced US Michigan Consumer Sentiment data for November...

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USD/CHF Price Prediction: Potential Bull Flag pattern forming

2024-11-07

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2024-11-07

USD/CHF might be developing a Bull Flag continuation pattern.  This suggests there will be an extension of the uptrend to upside targets higher.  USD/CHF – which looked as if it might be reversing trend and starting a new short-term downtrend at the start of the week – suddenly turned on a dime and spiked higher on Wednesday.  The pair rallied to a higher high, giving the established uptrend a shot in the arm. USD/CHF has since peaked and started...

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Forex Today: Markets remain on edge on US election day

2024-11-05

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2024-11-05

Here is what you need to know on Tuesday, November 5: Financial markets remain on edge as the US presidential election takes center stage, with latest polls pointing to a tight race. On Tuesday, the US economic calendar will feature Goods Trade Balance data for September and the ISM Services PMI report for October. Later in the day, the US Treasury will hold a 10-year note auction.  US Dollar PRICE This week The table below shows the...

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USD/CHF remains below 0.8650, market caution emerges ahead of US presidential election

2024-11-05

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2024-11-05

USD/CHF remains steady due to market caution amid increased uncertainty surrounding the US election results. Improved US Treasury yields could have provided support for the US Dollar. The continued slowdown in Swiss inflation has increased the likelihood of a bumper SNB rate cut in December. USD/CHF holds ground after registering losses in the previous session, trading around 0.8640 during the Asian hours on Tuesday. The US Dollar (USD) remains...

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USD/CHF dips toward 0.8650 as the US Dollar weakens amid lower Treasury yields

2024-11-04

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2024-11-04

USD/CHF depreciates as the US Dollar loses ground amid lower Treasury yields. The recent poll indicated that Kamala Harris and Donald Trump are locked in a close contest across seven battleground states. The 10-year Swiss bond yield falls toward 0.38% due to rising expectations of more aggressive rate cuts by the SNB. USD/CHF retraces its recent gains from the previous session, trading around 0.8650 during the European session on Monday. The US...

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Gold price edges higher amid US presidential election uncertainty

2024-11-04

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2024-11-04

Gold price drifts higher in Monday’s early European session.  Safe-haven demand amid US presidential election uncertainties, persistent Middle Eastern tensions, might lift the Gold price.  Traders brace for the US election outcome on Tuesday ahead of the Fed rate decision. The Gold price (XAU/USD) trades in positive territory on Monday. The US presidential election risks and the ongoing Middle East geopolitical tensions are likely to underpin the...

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USD/CHF slides to test 0.8645 support with US inflation data on tap

2024-10-31

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2024-10-31

The US Dollar depreciates for the second consecutive day and approaches support at 0.8645. The focus today is on the US PCE Prices Index but the highlight of the week is Friday's NFP report. A break of 0.8645 would confirm a double top at 0.8700. The US Dollar is on the back foot on Thursday, with investors bracing for the release of October’s PCE Prices Index data. The USD/CHF is testing the support area at 0.8645 after being rejected at the...

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USD/CHF Price Prediction: Gaps higher at open, uptrend remains intact

2024-10-28

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2024-10-28

USD/CHF has opened a Runaway Gap higher at the open, suggesting the uptrend will continue. Volume is low, reducing the chances that the gap represents a point of exhaustion.  USD/CHF opened a gap higher at the open on Monday (see chart below) and then promptly fell back down. It has since closed the gap.  Despite the speed of the decline following the gap higher, the short and medium term trend is still probably bullish, which given the old...

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Gold price remains on the defensive below $2,748-2,750 hurdle amid positive risk tone

2024-10-28

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2024-10-28

Gold price attracts some dip-buying on Monday and draws support from a combination of factors.  Middle East tensions, US election jitters and a modest USD pullback seem to benefit the XAU/USD.  Bets for smaller Fed rate cuts and rising US bond yields might cap the upside for the precious metal. Gold price (XAU/USD) struggles to capitalize on its intraday bounce and remains below the $2,748-2,750 supply zone through the early part of the European...

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USD/CHF hovers around 0.8650, upside likelihood appears possible as the US election looms

2024-10-25

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2024-10-25

USD/CHF may appreciate further due to fading odds of bumper rate cuts by the Fed in 2024. The US Dollar receives support from market caution ahead of the US presidential election. The recent lower Swiss inflation rate increased the dovish sentiment surrounding the SNB. USD/CHF remains steady after registering losses in the previous session, maintaining its position above 0.8650 during Asian trading hours on Friday. This level is near its...

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US Dollar rallies on Wednesday with US yields surging higher

2024-10-23

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2024-10-23

The US Dollar rolls through markets and strengthens against most major G20 currencies. US equities are falling further while markets calibrate the new normal for the Fed interest-rate outlook.  The US Dollar index adds even more gains to its October rally and trades in a crucial technical area.  The US Dollar (USD) speeds up its rally this Wednesday just ahead of the US Opening Bell, fueled by uncertainty ahead of the US presidential election and...

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USD/CHF depreciates to near 0.8650, downside risk seems restrained due to higher US yields

2024-10-22

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2024-10-22

USD/CHF may regain its ground as US Treasury yields continue to surge. CME FedWatch Tool suggests an 86.9% chance of the Fed’s 25-basis-point rate cut in November, with expecting no bumper cut. The Swiss Franc faces challenges as lower inflation reinforces the likelihood of another rate cut by the SNB in December. USD/CHF offers its gains from the previous session, trading around 0.8650 during the early European hours on Tuesday. This downside of...

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USD/CHF Price Forecast: Corrects to near 0.8630 despite upbeat US Dollar

2024-10-21

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2024-10-21

USD/CHF drops to near 0.8630 even though the US Dollar resumes its upside journey. The SNB is expected to cut interest rates again in December. Investors expect the Fed to reduce interest rates gradually. The USD/CHF pair drops to near 0.8630 from the two-month high of 0.8370 in Monday’s North American session. The Swiss Franc pair corrects even though the US Dollar (USD) rebounds after a mild sell-off on Friday, suggesting sheer strength in the...

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