Category Archive: 1) SNB and CHF

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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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Inflation im August sinkt stärker als erwartet – Ökonomen sehen Nationalbank gefordert

2024-09-03

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2024-09-03

Inflation unter Kontrolle Seit Anfang Jahr schwankt die hiesige Inflation nun im Bereich von 1,0 bis 1,4 Prozent, davor war sie im August 2022 bis auf einen Höchstwert von 3,5 Prozent gestiegen. Im Vergleich zum Ausland steht die Schweiz weiterhin besser da, allerdings sind die Unterschiede zuletzt deutlich geringer geworden.

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SNB’s Jordan: Price stability is a crucial precondition for growth and prosperity

2024-08-30

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2024-08-30

The Swiss National Bank (SNB) Chairman Thomas Jordan on Thursday acknowledged difficulties that the strong Swiss Franc is causing for Swiss industry, which is already dealing with weaker demand from other European countries, per Reuters.   Key quotes The mandate of the SNB is to maintain price stability—a crucial precondition for society and a good functioning economy. Price stability is a crucial precondition for prosperity.Germany and Europe...

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Ukraine closely watches Belarus border as troops amass

2024-08-30

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2024-08-30

Russia carried out several air attacks on Ukraine this week, costing Moscow an estimated £1.1 billion. Meanwhile, Ukraine has warned it is closely watching on its border with Belarus after a recent buildup of troops there, according to Sky News.  Last week, Kyiv's foreign ministry accused Minsk of concentrating a "significant number of personnel" in the Gomel area near Ukraine's northern border "under the guise of exercises." ...

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USD/CHF tumbles below 0.8600 as US Dollar weakens further

2024-08-20

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2024-08-20

USD/CHF slides below 0.8600 amid weakness in the US Dollar. Investors want to know how much the Fed will reduce interest rates in September. Market participants should brace for high volatility amid an eventful US week. The USD/CHF pair faces an intense sell-off and slides below the round-level support of 0.8600 in Tuesday’s North American session. The Swiss Franc asset plummets as the US Dollar (USD) has declined to a multi-month low as...

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Forex Today: Fedspeak and Canada inflation data to grab market attention

2024-08-20

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2024-08-20

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...

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GBP/JPY gains traction above 191.00 amid softer Japanese Yen

2024-08-20

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2024-08-20

GBP/JPY drifts higher to 191.20 in Tuesday’s early Asian session, up 0.40% on the day.  The improved risk sentiment weighs on the safe-haven currency like the JPY.  The BoE is expected to keep the rate steady at 5.0% at its September meeting. The GBP/JPY cross recovers to near 191.20, snapping the two-day, losing streak during the early European session on Tuesday. The sell-off of the Japanese Yen (JPY) broadly provides some support to the cross....

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USD/CHF holds below 0.8650 amid broad US Dollar weakness

2024-08-20

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2024-08-20

USD/CHF loses ground near 0.8620 in Tuesday’s early Asian session. The expectation of three quarter-point rate cuts this year weighs on the USD.  Easing geopolitical risks in the Middle East could cap the pair’s downside.  The USD/CHF pair trades in negative territory for the third consecutive day around 0.8620 on Tuesday during the early European trading hours. The weaker US Dollar (USD) amid rate-cut expectation by the Federal Reserve (Fed)...

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Hamas rejects the latest US proposal for Gaza hostage and ceasefire deal

2024-08-19

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2024-08-19

On Sunday, Hamas published an official statement rejecting the terms for a hostage release-ceasefire deal which were discussed in Doha on Thursday and Friday, blaming Prime Minister Benjamin Netanyahu for putting up new obstacles in the talks. Per the local news agency Times of IsraelNetanyahu is to host visiting US Secretary of State Antony Blinken on Monday. Blinken is then set to fly to Cairo, where talks on a deal are ongoing. The US has said...

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USD/CHF weakens below 0.8750 on risk-on mood, softer US Dollar

2024-08-16

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2024-08-16

USD/CHF drifts lower to near 0.8715 in Friday’s early Asian session.  US July Retail Sales came in better than expected in July, lifting the Greenback.  The renewed fear of geopolitical tension in the Middle East could support the CHF.  The USD/CHF pair trades on a softer note near 0.8715 during the early European session on Friday. The pair edges lower on the back of the softer US Dollar (USD).  Meanwhile, the USD Index (DXY), a measure of the...

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Gold price remains on the defensive amid repositioning ahead of the US CPI data release

2024-08-14

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2024-08-14

Gold price trades with modest losses for the second straight day amid a positive risk tone.  Geopolitical risks, bets for bigger Fed rate cuts and subdued USD demand to lend support. Traders might also prefer to wait for the release of the crucial US consumer inflation data.  Gold price (XAU/USD) attracts fresh sellers following an Asian session uptick to the $2,472-2,473 area and turns lower for the second successive day on Wednesday. A...

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