Category Archive: 1.) FXStreet on SNB&CHF

USD/CHF appreciates to near 0.8950 due to hawkish Fed, SNB Financial Stability Report eyed

USD/CHF gained ground as FOMC left its benchmark lending rate in the range of 5.25%–5.50% on Wednesday. Powell stated, “We don't see ourselves as having the confidence that would warrant policy loosening at this time.” Swiss Franc may see limited downside as SNB is unlikely to implement a rate cut in June.

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Gold continues bearish tone on outlook for US interest rates

Gold rolls over after retesting key resistance as the outlook for US interest rates remains elevated. This keeps the opportunity cost of holding non-yielding Gold high, making it less attractive to investors. Gold (XAU/USD) trades a quarter of a percent lower on Tuesday after being rejected by key support-turned-resistance at $2,315 late Monday. 

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USD/CHF gains amid US labor market strength

In Friday's session, the USD/CHF recovered surging above the 0.8965 mark. Strong Nonfarm Payroll data from the US propelled the USD across the board. US Treasury yields increased while the odds of a cut in September by the Fed slightly declined.

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Gold extends decline after US Nonfarm Payrolls beats expectations

Gold price declines after the release of US Nonfarm Payrolls data for May, shows a higher-than-expected change in employment and wages.

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USD/CHF declined as the Greenback remains weak, defends the 20-day SMA

USD/CHF took a dip in Tuesday’s session and fell to 0.9110. Despite the Consumer Confidence index in the US and Housing prices exceeding expectations, the USD remains weak. The Federal Reserve maintains a cautious stance, asking the market for patience, which keeps the odds for rate cuts in June or July low.

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USD/CHF stays above 0.9100 nearing the highs since October

USD/CHF hovers below 0.9152, the highest since October reached on Monday. US Dollar strengthened as higher Retail Sales amplified expectations of the Fed prolonging higher policy rates. Swiss Franc faces challenges due to the likelihood of SNB implementing another rate cut in the June meeting.

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Canadian Dollar remains vulnerable after strong US Retail Sales

Canadian Dollar gives away gains as USD bounces up following strong Retail Sales data. Investors’ concern that Middle East conflict might escalate provides additional support to the safe-haven US Dollar. Oil prices have depreciated nearly 3.5% from early April highs, adding negative pressure to CAD.

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Pound Sterling falls back as upbeat US Retail Sales strengthen US Dollar

The Pound Sterling faces pressure as geopolitical tensions improve the appeal for safe-haven assets. UK’s employment and inflation data will influence speculation over BoE rate cuts.

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Swiss Franc at risk as inflation diverges from SNB forecasts

Swiss Franc is vulnerable as inflation data continues to undershoot official forecasts. The SNB expected inflation to average 1.9% in 2024 in its December forecast, but it currently sits at 1.2%. 

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EUR/CHF Price Analysis: Pullback possible amid mixed signals

EUR/CHF has rebounded from the 0.9254 December 2023 lows and rallied up to resistance from a key barrier in the form of the 50-week Simple Moving Average (SMA). The pair is probably still in a long-term downtrend despite recent strength. 

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US Dollar enters fourth day of consecutive losses ahead of Powell testimony

The US Dollar trades softer across the board on Wednesday. US Federal Reserve Chairman Jerome Powell is heading to Capitol Hill for his semi-annual testimony. The US Dollar Index snaps an important support, looking bleak ahead of the ECB decision and NFP data.

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Swiss Franc extends losses on Swiss interest rate outlook

The Swiss Franc (CHF) edges lower against the US Dollar (USD) on Wednesday as traders continue to bet on a less-inflationary outlook for Switzerland, supporting a relatively low interest rate policy and dampening foreign capital inflows. 

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USD/CHF Price Analysis: Trades back and forth around 0.8800

USD/CHF trades sideways near 0.8800 as the focus shifts to US economic data. The Swiss economy is expected to have growth at a moderate pace of 0.1% in the last quarter of 2023. Fed policymakers support holding interest rates unchanged in the range of 5.25%-5.50%.

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EUR/CHF hits ten-week highs above 0.9550 as Franc continues to soften

EUR/CHF up over 3% from December’s lows. ECB President Lagarde looks ahead to growth rebound. Swiss Franc is broadly weaker across the majors market.

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Forex Today: Pound Sterling weakens on soft UK inflation, US Dollar consolidates gains

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.

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Gold price consolidates post-US CPI losses, seems vulnerable near two-month low

Gold price (XAU/USD) extends its sideways consolidative price move and remains depressed below the $2,000 psychological mark, or a two-month low heading into the European session on Monday. The stronger-than-expected US consumer inflation report released on Tuesday fueled speculations that the Federal Reserve (Fed) will wait until the June policy meeting before cutting interest rates.

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USD/CHF retraces its recent gains on risk appetite, inches lower to near 0.8730

USD/CHF attempts to recover its recent gains registered in the previous session. The USD/CHF pair edges lower to near 0.8730 during the European hours on Thursday. The improved risk appetite weakened the US Dollar (USD) against the Swiss Franc (CHF). Additionally, the subdued US bond yields are contributing downward pressure to undermining the Greenback.

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USD/CHF heading for 0.8500 as Swiss Franc climbs into four-month high against Greenback

The USD/CHF slipped through the 0.8600 handle on Thursday as broader markets push over the US Dollar (USD), bolstering all other major currencies across the board and lifting the Swiss Franc into a new twenty-week high against the Greenback.

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SNB’s Jordan: Another interest rate move is possible if current monetary policy is not restrictive enough

In an interview with local television station TeleZueri, Swiss National Bank (SNB) Chairman Thomas Jordan said that he doesn’t rule out more interest rate hikes ahead.

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Pound Sterling skates on thin ice ahead of UK’s Q3 GDP data

Pound Sterling struggles for a direction as investors shift focus to the Q3 GDP data.

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