Category Archive: 1) SNB and CHF

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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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USD/CHF Price Prediction: Consolidates within short-term uptrend

2024-10-16

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2024-10-16

USD/CHF is trading in a mini-range after pulling back from new highs.  This is probably a pause before the pair goes to new highs.  USD/CHF is consolidating within its short-term uptrend in what is likely to be a temporary pull back before the market goes higher again. The pair is probably in a short-term uptrend now given the rising sequence of peaks and troughs since it broke out of the range-bound consolidation in August and September. ...

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USD/CHF trades around 0.8630, recovers recent losses due to less-dovish Fed

2024-10-16

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2024-10-16

USD/CHF edges higher as robust US labor and inflation data have diminished the likelihood of bumper rate cuts by the Fed. Atlanta Fed President Raphael Bostic expects just one more interest rate cut of 25 basis points this year. The Swiss Franc strengthened as lower inflation in September reduced the need for the SNB to implement substantial rate cuts. USD/CHF retraces its recent losses registered in the previous session, trading around 0.8630...

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USD/CHF Price Prediction: Pull back unfolding after higher high

2024-10-15

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2024-10-15

USD/CHF is correcting back after peaking as it extends its uptrend. The pair will probably resume its bullish bias after the pull back has completed. USD/CHF is pulling back within its short-term uptrend after peaking at 0.8642 on Monday.

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Gold price retraces as China’s stimulus disappoints amid buoyant US Dollar

2024-10-14

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2024-10-14

Gold slips as China’s stimulus efforts fail to ease deflationary pressures. Minneapolis Fed President Kashkari’s comments on modest rate cuts and a strong labor market further support the Greenback. Geopolitical tensions, including Israel’s response to Hezbollah and Iran, continue to influence Bullion prices, with traders eyeing US economic data later this week.

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USD/CHF Price Prediction: Now probably in a short and medium term bull trend

2024-10-14

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2024-10-14

USD/CHF continues rising and might have established a medium-term uptrend. It is likely to continue higher although it is potentially overbought and a downside gap risks closing. 

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USD/CHF strengthens above 0.8550 ahead of FOMC Minutes

2024-10-09

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2024-10-09

USD/CHF gains ground to near 0.8575 in Wednesday’s early European session.  Reduced bets of a jumbo Fed rate cut in November support the USD ahead of the FOMC Minutes.  The escalating Middle East geopolitical tensions might cap the pair’s upside.  The USD/CHF pair trades on a stronger note to around 0.8575 during the early European session on Wednesday. The firmer US Dollar (USD) amid diminishing odds for more aggressive rate cuts by the Federal...

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Japanese Yen remains on the front foot against USD; lacks bullish conviction

2024-10-08

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2024-10-08

The Japanese Yen recovers further from a two-month trough touched against the USD on Monday. Geopolitical tensions benefit the safe-haven JPY and exert downward pressure on the USD/JPY pair. 

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USD/CHF Price Prediction: Surges in bullish breakout from multi-week range

2024-10-04

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2024-10-04

USD/CHF breaks out of the range it has been straight-jacketed in for weeks.  The pair has probably started a new uptrend with odds now favoring the acquisition of bullish targets.  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.   The move means the pair has probably changed its short-term...

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Eighth Karl Brunner Distinguished Lecture Introduction of Kristin J. Forbes, ETH Zurich

2024-10-03

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2024-10-03

I am very pleased to welcome you to the eighth Karl Brunner Distinguished Lecture. We are delighted and honoured that Professor Kristin Forbes accepted our invitation. I would like to thank the ETH Zurich and its President, Joël Mesot, for their hospitality.

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USD/CHF Price Prediction: Up leg almost reaches target and range high

2024-10-02

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2024-10-02

USD/CHF is rising within a range-bound market.  It has almost reached its target close to the top of the range high.  USD/CHF extends its gains as it unfolds an up leg within a range-bound market.  The move is underway and likely to reach the 0.8517 resistance level formed by multiple recent highs. A really bullish move could even see the pair reach the 0.8539 ceiling of the range. USD/CHF 4-hour Chart  USD/CHF is in a sideways trend. Given...

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Iran launches over 200 ballistic missiles at Israel

2024-10-02

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2024-10-02

Iran launched over 200 ballistic missiles at Israel on Tuesday. The attack began at 7:30 p.m. Israel time, after the US had warned just hours before that a strike was imminent. The Israel Defence Forces reported several of the missiles were intercepted, and reports said one person was killed in the West Bank, per Bloomberg. Israeli Prime Minister Benjamin Netanyahu vows to retaliate against Iran for a missile attack on Tuesday, but Tehran warned...

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SNB’s Schlegel: Can’t rule out negative rates, nothing is off the table

2024-10-01

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2024-10-01

Newly-minted Chairman of the Swiss National Bank (SNB) Martin Schlegel hit newswires on Tuesday, cautioning that further rate cuts haven't been ruled out. The incoming Chairman of the SNB officially took the reins of Switzerland's central bank on early Tuesday, and has inherited a central bank still caught in the wake of last year's lopsided management of the merger between 167-year-old Credit Suisse and UBS. Key highlights The services sector...

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