Category Archive: 1) SNB and CHF

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USD/CHF Price Prediction: Rising up within range-bound consolidation

2024-10-01

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2024-10-01

USD/CHF is rising within a range-bound market.  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.  USD/CHF 4-hour Chart  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...

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SNB not yet ready to weaken the CHF – Commerzbank

2024-10-01

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2024-10-01

The figures published yesterday morning on the Swiss National Bank's (SNB) foreign exchange market operations in the second quarter confirmed what the statements made at the last press conference had already indicated, Commerzbank’s FX analyst Michael Pfister notes. SNB reluctant to take action against the strong franc “For the time being, the SNB appears to be continuing to rely mainly on the key interest rate as its preferred instrument, with...

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Israel announces ground operation in Lebanon

2024-10-01

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2024-10-01

Israel announced a “limited” ground operation against Hezbollah targets in the border area of southern Lebanon, sending its soldiers across the border, per local news agency Aljazeera. Israeli warplanes carried out massive strikes on Beirut’s southern suburbs after civilians were ordered to leave. At least 95 people were killed on Monday by Israeli attacks on Lebanon.  Market reaction At the time of press, the Gold price was up 0.02% on the day...

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Israeli airstrike kills Hezbollah leader Nasrallah

2024-09-30

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2024-09-30

Israel’s killing of Hezbollah leader Hassan Nasrallah has further fuelled geopolitical tensions in the Middle East and intensified the war at its border with Lebanon. The Iran-backed militant group says it will continue to fight, even as a growing number of senior Hezbollah figures have been killed, per CNN.

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Gold recovers after US inflation data misses expectations

2024-09-27

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2024-09-27

Gold rebounds at the end of the week after the release of US PCE inflation data comes out lower than expected. The data suggests a continuation of the Fed's monetary easing stance which is a positive factor for Gold. 

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USD/CHF: Still remains in the month-long range between 0.84 and 0.8550 – DBS

2024-09-27

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2024-09-27

The Swiss National Bank’s third interest rate cut did not push USD/CHF out of its month-long range between 0.84 and 0.8550, DBS’ FX analyst Philip Wee notes. SNB does not want EUR/CHF to find new lows “SNB lowered the policy rate by 25 bps to 1.00% and kept the door open for more easing in the coming quarters on its new forecast for inflation to decelerate to 0.6% in 2025 from 1.2% in 2024.” “In June, SNB projected a modest slowdown in inflation...

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USD/CHF Price Prediction: Unfolding down leg within range

2024-09-27

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2024-09-27

USD/CHF is trading lower within a range formed since August.  It is in a sideways trend and a decisive breakout would be required to give directionality.  USD/CHF continues trading up and down within a range. It is probably in a sideways trend, which given the principle that “the trend is your friend” is likely to endure. USD/CHF 4-hour Chart    USD/CHF is currently moving down within the range and it will probably reach at least as far as the...

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USD/INR drifts lower on improved risk appetite, softer US Dollar

2024-09-25

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2024-09-25

Indian Rupee gathers strength in Wednesday’s early European session.  Improved risk appetite and a weakening USD support the INR.  Investors await the US August New Home Sales and Fed’s Kugler speech on Wednesday.  The Indian Rupee (INR) edges higher on Wednesday. Improved risk appetite following China’s stimulus measures and the softer US Dollar (USD) boost the local currency on the day. Nonetheless, rising crude oil prices, outflows related to...

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Swiss National Bank meet this week – consensus expectation is for a 25bp interest rate cut

2024-09-23

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2024-09-23

The Swiss National Bank is expected to cut its benchmark interest rate by 25 basis points on Thursday, from 1.25% to 1.0%.

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NZD/USD slumps from 0.6250 as US Dollar strives to gain ground

2024-09-20

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2024-09-20

NZD/USD drops from 0.6250 as the market sentiment turns cautious. The US Dollar bounces back ahead of Fed Harker’s policy announcement. Traders expect the Fed to reduce interest rates further by 75 bps in the remainder of the year. The NZD/USD pair faces selling pressure above the crucial resistance of 0.6250 in Friday’s North American trading hours. The Kiwi asset drops as the US Dollar (USD) attempts to gain ground above the annual low. The US...

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US Dollar set to post third consecutive week in red as dust from Fed meeting settles

2024-09-20

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2024-09-20

The US Dollar consolidates on Friday after weakening further on Thursday.. Traders have repriced the US Dollar amidst the Bank of Japan and Bank of England’s decisions to keep rates on hold.  The US Dollar Index falls outside its tight bandwidth, a sign that could dive lower next week.  The US Dollar (USD) trades broadly steady on Friday after Thursday’s sharp decline, when traders revalued the Greenback after the US Federal Reserve (Fed) joined...

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USD/CHF Price Prediction: Unfolding bullish leg within range

2024-09-20

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2024-09-20

USD/CHF has been oscillating since late August.  It is currently unfolding a bullish leg within that sideways trend. USD/CHF is trading within a range which began forming after the August lows. It is currently rising up within that range in a bullish leg which has reached about the midpoint of the consolidation. USD/CHF 4-hour Chart  USD/CHF is not in a bullish or bearish trend in the short-term but rather probably a sideways trend. Since it...

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Breaking: Gold price advances further beyond $2,600 mark, fresh record high

2024-09-20

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2024-09-20

Gold price climbs further beyond the $2,600, hitting fresh record peak amid a weaker US Dollar. Bets for more rate cuts by the Fed drag the US bond yields lower and undermine the Greenback. Worries about the US/China economic outlook and geopolitical risks also benefit the XAU/USD. Gold price (XAU/USD) gains positive traction for the second successive day on Friday and advances to a fresh record high, beyond the $2,600 mark during the early...

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USD/CHF weakens below 0.8500 amid bearish US Dollar

2024-09-20

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2024-09-20

USD/CHF softens near 0.8465 in Friday’s early European session.  Expectations of more rate cuts by the Fed continue to undermine the US Dollar.  Switzerland's trade surplus came in at 4.578 billion Swiss Francs in August. The USD/CHF pair trades on a softer note around 0.8465 on Friday during the early European session. The Greenback remains under some selling pressure after the Federal Reserve's (Fed) oversized interest rate cut on Wednesday....

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EUR/CHF Price Forecast: Correction looks close to completion, bull move to likely resume

2024-09-18

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2024-09-18

EUR/CHF has unfolded a correction over the last four days. This move now looks almost complete and the bullish prior move is likely to resume. EUR/CHF pulls back in the middle of a recovery rally.

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Schweizer Uhrenindustrie fordert Unterstützung von Politik und SNB

2024-09-17

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2024-09-17

Die Verbände fordern zum Handeln auf: So verfüge etwa die Schweizerische Nationalbank (SNB) über genügend Spielraum, um am Devisenmarkt zu intervenieren und den Franken zu schwächen. Weiter wird vom Bund die Verbesserung der Rahmenbedingungen gefordert.

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USD/CHF Price Forecast: Tumbles to near 0.8440 as Fed large rate cut bets swell

2024-09-16

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2024-09-16

USD/CHF witnesses a sharp sell-off near 0.8440 as traders raise bets toward the Fed's sizable rate cuts. The US Retail Sales for August are expected to have risen by 0.2%, slower than 1% in July.

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USD/CHF falls to near 0.8550 as traders expect a half basis point Fed rate cut

2024-09-16

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2024-09-16

USD/CHF depreciates due to a rising likelihood of a bumper 50 basis points rate cut by the Fed on Wednesday. Lower Treasury yields contribute to downward pressure for the US Dollar.

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GBP/CHF edges lower as Swiss Franc continues to outperform

2024-09-10

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2024-09-10

GBP/CHF trades marginally lower as the Pound weakens against the Franc.  UK employment data was robust and led to GBP rising in its key pairs.  GBP/CHF fell, however, due to the resilience of the Swiss Franc.  GBP/CHF edges lower on Tuesday, trading in the 1.1090s as it continues rolling over from the 1.1237 August 19 high.  The pair weakens despite the Pound Sterling (GBP) strengthening in most of its pairs after the release of UK employment...

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USD/CHF holds losses after soft US labor market data

2024-09-06

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2024-09-06

Pair bottomed at a low of 0.8375 and then recovered above 0.8400 but holds daily losses. US August NFPs came in lower than expected, following this weak labor market data trend. Investors might bet on a bigger cut in September from the Fed. On Friday, the USD/CHF fell to a daily low of 0.8375 and then recovered back above 0.8400. The upside, however, is limited as the US reported weak labor market figures. The US Dollar’s appeal diminished after...

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