- USD/CHF trades at 0.8842, recovering from a daily low of 0.8771, as US PCE inflation aligns with forecasts and Swiss retail sales plunge -2.3% MoM.
- Mixed US employment data sets the stage for a crucial Nonfarm Payrolls report, while a ‘morning star’ chart pattern suggests a potential upside for USD/CHF.
- Swiss National Bank faces pressure as retail sales disappoint and inflation remains below target; money market futures give a 68% chance of rates staying unchanged.
The Swiss Franc (CHF) losses momentum vs. the US Dollar (USD) after Swiss economic data was weaker than expected, but US inflation remains steady although decelerated. That, alongside month-end flows, bolstered the US Dollar. Hence, the USD/CHF is trading at 0.8842 after hitting a daily low of 0.8771.
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