Quotes

CFD Trading Rate US Dollar vs Swiss Franc (USDCHF)

Bid
Ask
Change (%)
Date/Time (GMT 0)
Over the past 10 days
Date Rate Change

Related news

  • 18.03.2024 07:01
    USD/CHF attracts some sellers below 0.8550, investors await Fed, SNB rate decision
    • USD/CHF edges lower to 0.8535 in Monday’s early European session. 
    • The FOMC is anticipated to hold benchmark rates steady in the range of 5.25%–5.50% on Wednesday.
    • The escalating Middle East geopolitical tension might lift the safe-haven flow, benefiting the Swiss Franc (CHF). 
    • The US FOMC and SNB monetary policy meeting on Wednesday and Thursday will be a closely watched events. 

    The USD/CHF pair loses traction amid the consolidation of the US Dollar (USD) during the early European session on Monday. Traders prefer to wait on the sidelines ahead of the US Federal Open Market Committee's (FOMC) monetary policy meeting on Wednesday, with no change in rate expected. USD/CHF currently trades near 0.8535, losing 0.04% on the day. 

    The FOMC will announce its interest rate decision on Wednesday. Investors anticipate the FOMC to hold benchmark interest rates steady in the range of 5.25%–5.50% at its March meeting. Financial markets have priced in nearly 75% odds that the FOMC will cut rates in July, according to the CME FedWatch Tools. That being said, the higher-for-longer interest rate narrative in the US might lift the Greenback and create a tailwind for the USD/CHF pair in the near term. 

    About the data, the University of Michigan reported on Friday that the Consumer Sentiment Index dropped to 76.5 in March from the previous reading and the expectation of 76.9. Meanwhile, the UoM one-year and five-year inflation expectations were unchanged at 3.0% and 2.9%, respectively. Industrial Production rose to 0.1% MoM in February from a 0.5% MoM fall in January.

    On the other hand, Anadolu Agency reported that Israeli warplanes launched fresh airstrikes in southern Lebanon on Sunday. Additionally, the Lebanese group Hezbollah said it struck a gathering of Israeli soldiers with “appropriate weapons” near the village of Wazzani, resulting in direct hits. The rising geopolitical tension between Lebanon and Israel, and in the Middle East could boost safe-haven assets like the Swiss Franc (CHF) and cap the upside of the USD/CHF pair. 

    Apart from this, the Swiss National Bank (SNB) is likely to leave the interest rate unchanged on Thursday. However, Bloomberg economists expect the SNB to lower interest rates sooner than previously predicted, with the first 25 basis points (bps) coming in June. 

    Moving on, the Swiss Trade Balance for February will be due on Tuesday. On Wednesday, market players will closely watch the FOMC rate decision. The focus will shift to the Swiss National Bank's (SNB) interest rate decision on Thursday. These events could give a clear direction to the USD/CHF pair. 

    USD/CHF

    Overview
    Today last price 0.8836
    Today Daily Change -0.0004
    Today Daily Change % -0.05
    Today daily open 0.884
     
    Trends
    Daily SMA20 0.8808
    Daily SMA50 0.8722
    Daily SMA100 0.8741
    Daily SMA200 0.8819
     
    Levels
    Previous Daily High 0.8853
    Previous Daily Low 0.8819
    Previous Weekly High 0.8853
    Previous Weekly Low 0.8747
    Previous Monthly High 0.8886
    Previous Monthly Low 0.8553
    Daily Fibonacci 38.2% 0.884
    Daily Fibonacci 61.8% 0.8832
    Daily Pivot Point S1 0.8822
    Daily Pivot Point S2 0.8804
    Daily Pivot Point S3 0.8788
    Daily Pivot Point R1 0.8855
    Daily Pivot Point R2 0.8871
    Daily Pivot Point R3 0.8889

     

     

  • 15.03.2024 05:08
    USD/CHF climbs to near 0.8850 ahead of US Consumer Sentiment
    • USD/CAD strengthens as market sentiment suggests the Fed could prolong higher interest rates.
    • The uptrend in US Treasury yields has bolstered the US Dollar.
    • SNB’s Jordan has voiced concerns that the CHF has an adverse impact on Swiss businesses.

    USD/CHF appreciates for the third consecutive day on Friday, advancing to around 0.8850 during the Asian trading hours. The strong Producer Price Index (PPI) data from the United States (US), has contributed to the strength of the USD/CHF pair.

    Furthermore, the US Dollar Index (DXY) benefits from the hawkish sentiment surrounding the US Federal Reserve, contemplating maintaining its higher interest rates in response to persistent inflationary pressures. Additionally, US Treasury yields have risen for the past four consecutive sessions, lending further support to the US Dollar (USD), consequently, underpinning the USD/CHF pair.

    The US Core Producer Price Index (PPI) remained stable with a 2.0% year-over-year increase in February, surpassing the expected 1.9%. The US PPI (YoY) recorded a 1.6% increase, exceeding both the anticipated 1.1% and the previous 1.0%. Furthermore, the Retail Sales Control Group showed improvement, reaching a flat 0.0% compared to the previous decline of 0.3%.

    These recent economic indicators complicate the Federal Reserve's decision-making process regarding interest rate cuts. According to the CME FedWatch Tool, the likelihood of a rate cut in March currently stands at only 1.0%, dropping to 7.7% for May. The probabilities for rate cuts in June and July are relatively lower, at 59.0% and 79.4%, respectively.

    In Switzerland, Producer and Import Prices decreased by 2.0% year-on-year in February 2024, showing a slight improvement from the previous month's 2.3% decline, which marked the sharpest drop since December 2020. This decline marks the tenth consecutive period of decrease. Monthly, prices increased by 0.1%, rebounding from a 0.5% fall in the previous month.

    The Swiss Franc (CHF) faces challenges as the Swiss National Bank (SNB) adjusts its policy stance, no longer prioritizing a strong domestic currency. SNB Chairman Thomas Jordan has expressed concerns about the Swiss Franc's excessive strength, particularly its impact on Swiss businesses, especially exporters. These concerns are reflected in data from Switzerland's Foreign Exchange Reserves (CHFER), which show a recovery in Forex reserves.

     

  • 14.03.2024 05:08
    USD/CHF approaches the vicinity of 0.8790, due to resilient inflation in the United States
    • USD/CHF appreciates for the second day on upbeat US CPI figures.
    • CME FedWatch Tool indicates expectations for a rate cut in July have surged to 84.2%.
    • Swiss Franc encounters challenges as the SNB shifts its stance on the strength of CHF.

    USD/CHF continues to strengthen for the second consecutive day during Thursday's Asian session, inching closer to 0.8790. The pair's appreciation is fueled by a stronger US Dollar (USD) supported by higher US Treasury yields, possibly driven by recent data on “resilient inflation” from the United States (US).

    The upbeat US Consumer Price Index (CPI) has tempered expectations for near-term interest rate cuts by the Federal Reserve (Fed). However, market sentiment still leans towards a rate reduction in June, with a likelihood of 67.2%, according to the CME FedWatch Tool. Moreover, expectations for a rate cut in July have surged to 84.2%.

    US Treasury Secretary Janet Louise Yellen remarked that it appears unlikely for interest rates to revert to levels as low as those before the Covid-19 pandemic. She also noted that the interest rate assumptions outlined in President Biden's budget plan were deemed "reasonable" and aligned with a broad spectrum of forecasts.

    On the other side, the Swiss Franc (CHF) encounters challenges as the Swiss National Bank (SNB) shifts its stance, no longer aiming to promote a strong domestic currency. Moreover, the prevailing risk-on sentiment exerts downward pressure on the Swiss Franc, traditionally considered a safe haven currency.

    SNB Chairman Thomas Jordan expressed concerns about the Swiss Franc's excessive strength, particularly for Swiss businesses, especially exporters. His remarks align with data from Switzerland's Foreign Exchange Reserves (CHFER), indicating a recovery in Forex reserves. This suggests that the SNB may be selling Swiss Francs to purchase other currencies, aiming to mitigate the CHF's appreciation.

    Meanwhile, the consumer confidence indicator in Switzerland continued its decline, reaching -42.3 in February from January's -41.1. This downward trend reflects heightened concerns regarding personal financial situations and the overall economy in the coming months compared to the previous period. Thursday will see the release of Producer and Import Prices for February, offering further insights into Switzerland's economic landscape.

     

  • 13.03.2024 04:44
    USD/CHF flat-lines below 0.8800, US Retail Sales eyed
    • USD/CHF trades sideways around 0.8776 in Wednesday’s Asian session. 
    • The US CPI figure climbed 3.2% from a year earlier in February vs. 3.1% prior.
    • The rising Middle East geopolitical tensions and risk-averse environment could lift the CHF. 
    • Traders will watch the Swiss Producer and Import Prices and US Retail Sales February, due on Thursday. 

    The USD/CHF pair remains confined in a narrow trading range of 0.8765-0.8780 during the Asian trading hours on Wednesday. The stronger-than-expected US CPI inflation data in February lift the US Dollar (USD). Nonetheless, the risk-averse environment might boost safe-haven demand and benefit the Swiss Franc (CHF). The pair currently trades near 0.8776, adding 0.02% on the day. 

    Inflation remains elevated in the United States in February. The Labor Department reported on Tuesday that the Consumer Price Index (CPI) climbed 3.2% from a year earlier from 3.1% in January. On a monthly basis, the headline CPI figure increased by 0.4% from the previous month of a 0.3% gain. Additionally, the Core CPI, excluding volatile food and energy items, rose 0.4% MoM in February, above the market consensus of 0.3%. 

    The hotter CPI inflation report might influence Federal Reserve (Fed) officials to wait until the summer before beginning to cut interest rates. This, in turn, provides some support for the Greenback. Fed Chair Jerome Powell said last week that the Fed is likely to cut the interest rate this year, but the central bank needs to see more evidence of inflation data to ensure that inflation returns to the 2% target. Investors are pricing in 70% odds of rate cuts in June, according to the CME FedWatch tool.

    On the other hand, the escalating geopolitical tensions in the Middle East, uncertainty, and risk-averse environment could boost safe-haven assets like CHF and create a headwind for the USD/CHF pair. 

    In the absence of the top-tier economic data released from the US and Swiss dockets on Wednesday, the pair remains at the mercy of the USD price dynamics and the broader risk sentiment. On Thursday, the Swiss Producer and Import Prices and US Retail Sales February will be released.  





     

  • 12.03.2024 05:06
    USD/CHF oscillates above the mid-0.8700s, US CPI data looms
    • USD/CHF consolidates near 0.8772 in Tuesday’s early European session. 
    • Fed officials highlighted that the central bank remained data-dependent before they were confident that inflation is sustainably returning 2% target.
    • The rising concerns in the Middle East could lift the Swiss Franc, a safe-haven currency. 
    • Market players will closely monitor the US February CPI inflation data on Tuesday. 

    The USD/CHF pair trades sideways above the mid-0.8700s during the early European session on Tuesday. Investors prefer to wait on the sidelines ahead of the key US inflation report later in the day. In the meantime, a cautious mood in the market could provide some support to the Swiss Franc (CHF). USD/CHF currently trades around 0.8772, unchanged for the day. 

    The Federal Reserve's (Fed) officials emphasized last week that the US central bank remains data-dependent and wants to feel confident that inflation is sustainably returning to the Fed’s 2% target. Money markets have priced in 70% odds of a rate cut in June, while the chance for a May rate cut stays at 22%, according to the CME FedWatch Tool. Investors await the US CPi inflation data for fresh impetus. 

    The headline CPI figure is forecast to remain steady at 3.1% YoY in February, while the Core CPI figure is estimated to drop to 3.7% YoY in February from 3.9% in January. This data could trigger volatility in the market. The stronger-than-expected report could dampen hopes of a rate cut by the Fed, which might lift the US Dollar (USD) and create a tailwind for USD/CHF. 

    On the other hand, the rising geopolitical tensions in the Middle East could boost safe-haven assets like the Swiss Franc (CHF) and cap the upside of the pair. There are rising concerns of violence spreading, especially to Jerusalem, during the Islamic holy month of Ramadan, as a ceasefire remains elusive, per the BBC. 

    Moving on, investors will closely watch the US February CPI inflation data, due later in the day. Later this week, the focus will shift to US Retail Sales for February, which is expected to show an increase of 0.8% YoY. On Friday, the US Industrial Production and Michigan Consumer Sentiment Index will be released.

     

  • 11.03.2024 06:30
    USD/CHF posts modest gains below 0.8800, US PCI data eyed
    • USD/CHF holds positive ground near 0.8777 in Monday’s early European session. 
    • The US economy added 275,000 jobs in February vs. 229,000 prior, better than expected. 
    • The rising Middle East geopolitical and economic uncertainties might lift safe-haven assets like the Swiss Franc (CHF). 
    • The US February CPI and Retail Sales data will be closely watched this week. 

    The USD/CHF pair posts modest gains below the 0.8800 psychological barrier during the early European session on Monday. The prospect that the Federal Reserve (Fed) will cut the interest rate this year exerts some selling pressure on the US Dollar (USD) and creates a headwind for the pair. Investors will closely watch the US CPI inflation on Tuesday for fresh impetus. At press time, USD/CHF is trading at 0.8777, up 0.04% on the day. 

    The Federal Reserve (Fed) Chair, Jerome Powell, said during his semi-annual testimony last week that the US economy is robust and that the Fed is close to having enough confidence in inflation's downward track to begin lowering rates. According to the CME FedWatch Tools, futures markets have priced in around a 70% chance that the Fed will begin cutting interest rates by mid-June, with a full percentage point of rate reductions expected by year-end. 

    The US Labor Department reported on Friday that the US economy added 275,000 jobs in February, up from 229,000 in January, better than the estimation of 200,000. Furthermore, the Unemployment Rate in the US climbed to 3.9% in the same month from 3.7% in January. The figure registered its highest level in two years. The US wage growth, as measured by Average Hourly Earnings, rose by 4.3% YoY in February versus 4.4% prior, below the market consensus of 4.4%.  

    On the Swiss front, the ongoing geopolitical tensions in the Middle East and the economic uncertainties in major countries might boost safe-haven demand and benefit the Swiss Franc (CHF). In the Middle East, Hamas leader Ismail Haniyeh blamed Israel on Sunday for impeding cease-fire talks and rejecting Hamas' desire to stop the bloodshed in Gaza. Meanwhile, tensions are rising in Russia and its neighboring territories, raising fears about a possible war escalation beyond Ukraine. 

    Traders will monitor the US February CPI and Retail Sales, due on Tuesday and Thursday, respectively. The headline CPI figure is forecast to remain steady at 3.1% YoY in February, while Retail Sales are estimated to improve to 0.7%. Traders will take cues from the data and find trading opportunities around the USD/CHF pair. 

     

  • 08.03.2024 13:37
    USD/CHF to extend its race higher over the near term – HSBC

    Economists at HSBC analyze the Swiss Franc (CHF) outlook.

    EUR/CHF is likely to track sideways

    The CHF’s bad performance is in part due to its safe-haven status, as global equity markets gain. The Swiss Franc has also been hit by the Swiss National Bank’s (SNB) shift in tone around the currency, with FX strength no longer a policy tool or aspiration it seems.

    We continue to look for a higher USD/CHF over the near term, while the EUR/CHF pair is likely to track sideways.

     

  • 08.03.2024 04:37
    USD/CHF loses ground below the 0.8800 mark, all eyes on US NFP data
    • USD/CHF loses traction near 0.8775 on the softer USD in Friday’s Asian session. 
    • Fed’s Powell said he still expects to cut rates this year as long as the data continues to cooperate.
    • Swiss Unemployment Rate eased to 2.4% in February from 2.5% in January. 
    • US February Nonfarm Payrolls and Unemployment Rate will be closely watched by traders. 

    The USD/CHF pair trades in negative territory below the 0.8800 mark during the Asian session on Friday. All eyes are on the US Nonfarm Payrolls (NFP) report due later on Friday. However, the cautious mood in the market might lift the safe-haven Swiss Franc (CHF) against the US Dollar (USD). At press time, USD/CHF is trading at 0.8775, down 0.03% on the day. 

    Fed Chair Jerome Powell reiterated on Thursday that he still expects to cut interest rates this year as long as the economic data continues to cooperate. However, the Fed officials need more confidence that inflation is returning to 2% before considering rate cuts. The US labor market data later in the day might offer some hints about the economic health of the US, influencing monetary policy decisions and market sentiment. The stronger-than-expected data could boost the Greenback and act as a tailwind for the USD/CHF pair. 

    On the Swiss front, Data released from the State Secretariat for Economic Affairs (SECO) on Thursday revealed that Switzerland’s Unemployment Rate eased to 2.4% in February from 2.5% in January. 

    Furthermore, the fall in Swiss inflation in February might fuel expectations that the Swiss National Bank (SNB) could cut interest rates later this month. The interest rate in Switzerland has stood at 1.75%, unchanged since June 2023. Financial markets expect the SNB to lower rates in the coming weeks.

    Market players will focus on the US Nonfarm Payrolls for February, which is expected to see a 200K job addition. Additionally, the Unemployment Rate is forecast to hold steady at 3.7%, and finally, the Average Hourly Earnings are projected to drop to 0.2% MoM from 0.6% MoM in January.

     

  • 07.03.2024 05:03
    USD/CHF finds some support above the 0.8800 mark, Swiss Unemployment Rate eyed
    • USD/CHF loses momentum above 0.8800 in Thursday’s early European session. 
    • Fed Chair Powell thought the US rate had reached its peak and it would be cut later this year.
    • The fall in Swiss inflation data prompted speculation that the SNB could cut interest rates later this month. 
    • Investors await the Swiss Unemployment Rate, US weekly initial Jobless Claims ahead of Fed Chair Powell's testimony on Thursday. 

    The USD/CHF pair finds some support above the 0.8800 mark during the early European session on Thursday. The pair trades in negative territory for the third consecutive day as the rising prospects of a rate cut by the Fed in June drag the US dollar (USD) lower. USD/CHF currently trades near 0.8810, down 0.12% on the day. 

    The Federal Reserve (Fed) Jerome Powell told the House Financial Services Committee on Wednesday that he thought the interest rate in the US had reached its peak and it would be cut later this year. However, Powell highlighted that the economic outlook is still uncertain. San Francisco Fed President Mary Daly stated that Fed policy is in a good position, but holding rates high for too long could hurt the economy. 

    On the Swiss front, the Swiss CPI inflation data fell in February to its lowest level since October 2021, raising speculation that the Swiss National Bank (SNB) could lower the interest rates later this month. 

    However, the downside of Swiss Franc (CHF) might be limited due to the escalating geopolitical tensions in the Middle East. Early Wednesday, US officials reported that three seafarers had been killed and at least four others were in critical condition in a Houthi missile attack on a merchant ship in the Gulf of Aden. This, in turn, might boost traditional safe-haven assets like CHF and weigh on the USD/CHF pair. 

    Market players will monitor Switzerland’s February Unemployment Rate and the US weekly Initial Jobless Claims, due on Thursday. Additionally, the second testimony by Fed Chair Powell and the Fed’s Mester speech will be closely watched. Traders will find trading opportunities around the USD/CHF pair. 

     

  • 06.03.2024 07:07
    USD/CHF trades on a stronger note below the mid-0.8800s, Fed Chair Powell’s testimony eyed
    • USD/CHF edges higher to 0.8845 in Wednesday’s early Asian session. 
    • The US ISM Services PMI came in weaker than expected, falling to 52.6 in February vs. 53.4 prior. 
    • The Swiss CPI inflation rate registered the lowest inflation rate since October 2021.

    The USD/CHF pair trades on a stronger note around the mid-0.8800s during the early European trading hours on Wednesday. The testimony of the Federal Reserve Chairman Jerome Powell at Capitol Hill later in the day will be a closely watched event. The hawkish comments from the Fed could lift the US Dollar (USD) against its rivals. At press time, USD/CHF is trading at 0.8845, gaining 0.15% on the day. 

    Financial markets expect the Fed to start cutting rates in the June meeting and forecast four quarter-percentage-point cuts in total this year, according to the CME FedWatch Tools. However, the timetable is uncertain, and Fed officials want to see more data before starting to lower the interest rate. 

    On Tuesday, the US ISM Services PMI came in weaker than expected, falling to 52.6 in February from 53.4 in the previous month. Meanwhile, the New Orders Index rose to 56.1 from 55.0 in the previous reading. The Employment Index declined to 48.0 versus 50.5 prior, and the Prices Paid Index dropped to 58.6 from 64.0 in the previous reading. 

    Earlier this week, Switzerland’s Consumer Price Index (CPI) dipped to 1.2% YoY in February from 1.3% in January, above the market estimate of 1.1%. This figure registered the lowest inflation rate since October 2021. The Swiss National Bank (SNB) will hold its next meeting on March 21 and February and will influence SNB about interest rates. 

     

  • 05.03.2024 08:33
    USD/CHF Price Analysis: Aims to recapture three-month high around 0.8900
    • USD/CHF focuses on recapturing the crucial resistance of 0.8900 amid a risk-off mood.
    • Fed Powell would provide fresh guidance on the interest rate outlook.
    • The term of SNB Jordan will be over in the second half of this year.

    The USD/CHF pair rises slightly above 0.8850 in Tuesday’s European session as investors turn cautious ahead of the Federal Reserve (Fed) Chair Jerome Powell’s testimony before Congress on Wednesday and the United States Nonfarm Payrolls (NFP) data later this week.

    The Swiss Franc asset extends its upside as the US Dollar Index (DXY) rebounds from two-day low around 103.70. Fed Powell's commentary and the February labor market data will provide fresh insights about when the Fed will start reducing interest rates.

    The Swiss Franc fails to find buying interest despite the annual Consumer Price Index (CPI) remaining stickier than expectations in February. The monthly CPI rose strongly by 0.6% against 0.2% in January. The monthly pace was significantly higher than required to keep inflation below 2%. The annual CPI at 1.2% was higher than expectations of 1.1% but lower than the prior reading of 1.3%.

    Meanwhile, it is announced that the SNB is looking for the successor of Chairman Thomas J. Jordan. The new SNB Chairman will be announced in the second half of this year.

    USD/CHF falls while attempting to deliver a breakout of the consolidation formed in a range of 0.8744-0.8898 on a four-hour timeframe. A mild sell-off near the upper end of the consolidation doesn’t indicate a reversal but indicates that US Dollar bulls need more force for a decisive break. The consolidation pattern indicates a sharp volatility contraction. A breakout in the same will result in a volatility expansion, leading to wider ticks and heavy volume.

    The 50-period Exponential Moving Average (EMA) near 0.8822 continues to support the US Dollar bulls.

    The 14-period Relative Strength Index (RSI) climbs above 60.00. A bullish momentum would emerge if the RSI (14) manages to sustain above the same.

    Fresh upside would emerge if the asset breaks above the three-month high around 0.8900, which would unlock upside towards September 20 low at 0.8932 and November 8 low at 0.8976.

    On the contrary, a breakdown below February 13 low at 0.8746 would expose the asset to the round-level support of 0.8700, followed by February 1 high around 0.8650.

    USD/CHF four-hour chart

     

  • 05.03.2024 01:36
    USD/CHF consolidates in a narrow trading range above 0.8850, US Services PMI eyed
    • USD/CHF oscillates around 0.8855 in Tuesday’s early Asian session.
    • Fed’s Bostic said it will likely be appropriate to approve two quarter-point rate cuts by the end of this year. 
    • The Swiss CPI eased to 1.2% in February from 1.3% in January, better than expected. 

    The USD/CHF pair consolidates in a narrow trading range around the mid-0.8800s during the early Asian session on Tuesday. The Institute for Supply Management (ISM) will publish the US Services PMI report later in the day, which is estimated to ease from 53.4 in January to 53.0 in February. At press time, USD/CHF is trading at 0.8855, gaining 0.08% on the day. 

    Atlanta Fed President Raphael Bostic said that the US central bank is under no urgent pressure to cut interest rates given a strong economy and job market. Bostic further stated that it will likely be appropriate for the Fed to approve two quarter-point rate cuts by the end of this year. Financial markets also believe that the Fed will cut its benchmark interest rate this year. According to the CME Group’s FedWatch tool, investors have priced in a 99.5% chance of at least one rate cut by December. 

    On Monday, the Swiss Consumer Price Index (CPI) eased to 1.2% in February from 1.3% in January, better than the market expectation of 1.1%. This figure was the lowest inflation rate since October 2021. 

    The US ISM Services PMI will be due on Tuesday. On Wednesday, investors will monitor Fed's Chair Jerome Powell's testify. The hawkish comments from the Fed officials might boost the Greenback and create a tailwind for the USD/CHF pair. The highlight this week will be the US employment data, including Nonfarm Payrolls (NFP), Average Hourly Earnings and Unemployment Rate. 

     

     

     

     

  • 04.03.2024 05:58
    USD/CHF struggles to gain ground below the mid-0.8800s, eyes on Swiss CPI data
    • USD/CHF edges lower to 0.8830 on the weaker US Dollar on Monday. 
    • The US Manufacturing PMI dropped to 47.8 in February vs. 49.1 prior, below the market consensus. 
    • The signal of slowing inflation in Switzerland could open the door for earlier SNB rate cuts. 
    • Traders will focus on the Swiss CPI inflation data on Monday

    The USD/CHF pair struggles to gain ground near 0.8830 after retreating from nearly the 0.8900 mark during the early European trading hours on Monday. The downtick of the pair is backed by the weaker US Dollar (USD) and lower US Treasury bond yields. Market players await the Swiss February Consumer Price Index (CPI) for fresh impetus, which is expected to ease from 1.3% in January to 1.1% in February. 

    The Institute for Supply Management (ISM) revealed on Friday that the US Manufacturing Purchasing Managers Index (PMI) declined to 47.8 in February from 49.1 in the previous month, weaker than the market expectation of 49.5. 

    Boston Federal Reserve (Fed) President Susan Collins and New York’s John Williams stated that the first rate cut will likely be appropriate later this year, while Atlanta’s Raphael Bostic said he expected the easing policy this summer if the economy evolves as he expects. Investors will take more cues from Fed's Chair Jerome Powell's testify on Wednesday, which might offer insight into the inflation outlook and monetary policy. The hawkish remarks from the Fed policymakers might lift the USD and act as a tailwind for the USD/CHF pair. 

    On the Swiss front, the annual inflation rate in Switzerland fell unexpectedly in January, which might convince the Swiss National Bank (SNB) to cut rates at its March meeting. The Swiss Federal Statistical Office will release the nation’s Consumer Price Index (CPI) for February later on Monday. These data could provide fresh catalysts for the USD/CHF pair. 



     

  • 01.03.2024 08:30
    USD/CHF Price Analysis: Rises to 0.8850 on firmer US Dollar
    • USD/CHF advances to 0.8860 as higher US core PCE inflation data strengthens US Dollar.
    • The Swiss Franc remains on the back foot as the SNB is expected to lead the global rate-cut cycle.
    • Investors await the US Manufacturing PMI for fresh insights on the economic outlook.

    The USD/CHF pair extends its upside to 0.8860 in Friday’s European session. The Swiss Franc asset strengthens due to firm US Dollar and hopes that the Swiss National Bank (SNB) will lead the rate-cut cycle.

    The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, has turned sideways around 104.20 after a sharp recovery from 103.70.

    The appeal for the US Dollar improves due to higher United States monthly core Personal Consumption Expenditure Price Index (PCE) data for January, indicating that the Federal Reserve’s (Fed) path to 2% inflation would be bumpy. The monthly core inflation grew by 0.4% as expected, higher than the 0.2% pace necessary to achieve price stability.

    Meanwhile, cooling price pressures in the Swiss economy have prompted a chance of rate cuts by the SNB in March. In January, inflation fell to 1.3% against expectations of 1.7%, allowing the SNB to pivot to a dovish monetary policy stance.

    In today’s session, market participants will focus on the US ISM Manufacturing PMI for February, which will be published at 15:00 GMT. Investors anticipate factory data to come at 49.5, higher than 49.1 in January but will remain below the 50.0 threshold.

    USD/CHF delivers a vertical upside move after a breakout of the consolidation formed between the 0.8778-0.8824 range in a four-hour timeframe. The consolidation formation indicates a sharp contraction in volatility, which exhibits narrow ticks and low volume. A breakout of the same results in a volatility expansion, followed by wider ticks and heavy volume.

    The near-term outlook is bullish as the 20-period Exponential Moving Average (EMA) at 0.8821 is sloping higher.

    The 14-period Relative Strength Index (RSI) shifts into the bullish range of 60.00-80.00, indicating a positive momentum has been triggered.

    Fresh upside would emerge if the asset breaks above the three-month high around 0.8886, which would unlock upside towards September 20 low at 0.8932 and November 8 low at 0.8976.

    On the contrary, a breakdown below February 13 low at 0.8746 would expose the asset to the round-level support of 0.8700, followed by February 1 high around 0.8650.

    USD/CHF four-hour chart

     

  • 01.03.2024 00:04
    USD/CHF gains ground around 0.8850, eyes on US PMI data
    • USD/CHF recovers some lost ground around 0.8845 in Friday’s early Asian session. 
    • US PCE rose by 2.4% YoY in January vs. 2.6% prior; Core PCE eased to 2.8% YoY vs. 2.9% previously. 
    • Switzerland's GDP grew by 0.3% QoQ in the fourth quarter (Q4) of 2023. 

    The USD/CHF pair holds positive ground around the mid-0.8800s during the early Asian trading hours on Friday. The recovery of the pair is bolstered by the firmer US dollar (USD). Investors await the Swiss Real Retail Sales and US ISM Manufacturing PMI, due on Friday. The pair currently trades near 0.8845, gaining 0.04% on the day. 

    On Thursday, the US Personal Consumption Expenditures Price Index (PCE) rose by 2.4% YoY in January, a slowdown from December’s reading of 2.6%. The Federal Reserve's (Fed) preferred inflation gauge, Core PCE, eased to 2.8% YoY from 2.9% in the previous reading, in line with the estimation. 

    Furthermore, the weekly Initial Jobless Claims for the week ending February 24 totaled 215K from the previous reading of 202K, worse than the expectation of 210K. Continuing Claims rose to 1.905 million, higher than the forecast of 1.874 million.

    The January inflation data increases uncertainty and delays expectations of a rate cut, which boosts the US Dollar (USD) against its rivals. The Fed officials will monitor the inflation data, and the policymakers will likely set the table for interest-rate cuts later this year.

    On the Swiss front, Switzerland's Gross Domestic Product (GDP) grew by 0.3% QoQ in the fourth quarter (Q4) of 2023, better than the estimation of 0.1%, according to the State Secretariat for Economic Affairs (SECO) on Thursday. 

    Moving on, traders will monitor the Swiss January Real Retail Sales, which is estimated to improve from a 0.8% decline to a 0.4% rise. Also, the US ISM Manufacturing PMI, Michigan Consumer Sentiment Index, and S&P Global Manufacturing PMI will be released from the US docket. Traders will take cues from the data and find trading opportunities around the USD/CHF pair. 

     

  • 29.02.2024 05:44
    USD/CHF consolidates around 0.8790 post recent gains, focus on US PCE data
    • USD/CHF maintains its stability ahead of US PCE - Price Index data.
    • CME FedWatch Tool indicated the chances for rate cuts in March are at 3.0%, with 19.3% in May and 52.6% in June.
    • ZEW Survey – Expectations improved to 10.2 from the previous 19.5 drop.

    USD/CHF moves sideways amid a tepid US Dollar (USD) despite improved US Treasury yields. The pair hovers around 0.8790 during the Asian trading hours on Thursday. The US Dollar Index (DXY) edges lower to near 103.90 with 2-year and 10-year yields on US Treasury coupons standing at 4.65% and 4.28%, respectively, by the press time.

    The preliminary US Gross Domestic Product Annualized (Q4) rose by 3.2%, against the expected 3.3%. Additionally, the preliminary US Gross Domestic Product Price Index (Q4) increased by 1.7%, surpassing both expected and previous rises of 1.5%. These figures have led financial markets to delay expectations for the Federal Reserve’s (Fed) first rate cut, providing some support to the US Dollar (USD).

    According to the CME FedWatch Tool, the odds for rate cuts in March are at 3.0%, with probabilities decreasing to 19.3% in May and increasing to 52.6% in June. New York Federal Reserve (Fed) President John Williams stated on Wednesday that while there is still progress to be made in reaching the Fed's 2% inflation target, the possibility of interest rate cuts this year remains on the table, contingent upon incoming data. Traders are eagerly awaiting the release of key US Personal Consumption Expenditures - Price Index data, which could potentially influence the Federal Reserve's monetary policy stance.

    On the Swiss side, the ZEW Survey – Expectations indicated improved business conditions for February, with a reading of 10.2, up from the previous drop to 19.5. Additionally, support stemmed from expectations of lower interest rates by the Swiss National Bank (SNB) in the second half of the year. Moreover, investors are anticipating the Gross Domestic Product (GDP) data by the Swiss State Secretariat for Economic Affairs (SECO) on Thursday, which is expected to report a decline in the fourth quarter of 2023.

     

  • 28.02.2024 05:32
    USD/CHF rebounds ahead of Swiss ZEW Survey Expectations, trades near 0.8800
    • USD/CHF improves to near 0.8800 ahead of Swiss ZEW Survey Expectations.
    • Swiss GDP is expected to report a decline in the fourth quarter of 2023.
    • US GDP is anticipated to remain unchanged at 3.3% in the fourth quarter of 2023.

    USD/CHF rebounds after two days of losses, improving to near psychological level of 0.8800 during the Asian trading hours on Wednesday. The Swiss Franc (CHF) receives downward pressure ahead of the Swiss ZEW Survey – Expectations, scheduled to be released later in the day.

    Furthermore, investors await the Gross Domestic Product (GDP) by the Swiss State Secretariat for Economic Affairs (SECO) on Thursday, which is expected to report a decline in the fourth quarter of 2023.

    Furthermore, the Swiss Real Retail Sales conducted by the Swiss Federal Statistical Office will be released on Thursday. The market expectation is to grow by 0.4% year-over-year in January, swinging from the previous decline of 0.8% in December.

    On the other side, market expectations anticipate that the US GDP will remain steady at 3.3% in the fourth quarter of 2023. The Federal Reserve (Fed) has signaled caution regarding any hasty reductions in interest rates, leading to a decreased likelihood of a rate cut in March. This has exerted downward pressure on the US Dollar (USD).

    According to the CME FedWatch Tool, the probability of rate cuts in March has decreased to 1.0%, while the likelihood of cuts in May and June stands at 21% and 49.8%, respectively.

    US Housing Price Index (MoM) increased by 0.1% in December, falling short of both the expected 0.3% increase and the prior 0.4% increase. Additionally, US Durable Goods Orders declined by 6.1%, contrasting with an expected decrease of 4.5% and a previous decrease of 0.3%.

     

  • 27.02.2024 13:27
    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%.

    The USD/CHF is stuck in a tight range near the round-level resistance of 0.8800 since Friday’s trading session. The Swiss Franc asset struggles to find a direction as investors await the United States core Personal Consumption Expenditure price index (PCE) and Swiss Q4 Gross Domestic Product (GDP) data for further guidance.

    The US Dollar edges down in Tuesday’s trading session. Further action in the US Dollar will be guided by the US core PCE price index data, which will influence market expectations for the Federal Reserve’s (Fed) rate cuts.

    Meanwhile, Fed policymakers argue in favor of holding interest rates unchanged in the range of 5.25%-5.50% until they get evidence that inflation will fall sustainably to the required rate of 2%.

    On the Swiss front, investors await the Q4 GDP data, which will be published on Thursday. Investors anticipate the economy grew modestly by 0.1% in the October-December quarter against 0.3% in the third quarter of 2023.

    USD/CHF consolidates in a narrow range around 0.8800. The broader outlook remains bullish as the pair trades in a Rising Channel chart pattern formed on a four-hour timeframe. In the aforementioned chart pattern, market participants consider each pullback a buying opportunity.       

    The 50-period Exponential Moving Average (EMA) at 0.8800 remains sticky with spot prices, indicating a sideways trend.

    The 14-period Relative Strength Index (RSI) oscillates in the 40.00-60.00 range, demonstrating a sharp volatility contraction.

    Fresh upside would emerge if the asset breaks above the three-month high of around 0.8886, which would unlock upside towards the September 20 low at 0.8932 and the November 8 low at 0.8976.

    On the contrary, a breakdown below February 13 low at 0.8746 would expose the asset to round-level support of 0.8700, followed by February 1 high around 0.8650.

    USD/CHF four-hour chart

     

  • 27.02.2024 06:08
    USD/CHF consolidates around 0.8800, investors await US, Swiss GDP data
    • USD/CHF trades sideways near the 0.8800 mark in Tuesday’s early European session. 
    • The FOMC minutes indicated that policymakers were worried about moving too fast to cut their rate and preferred to wait for more data. 
    • The markets expect the SNB to start rate cuts in September, even though the recent inflation data might speed up the timeline. 

    The USD/CHF pair consolidates in a narrow trading range during the early European session on Tuesday. Investors seem to prefer to wait on the sidelines ahead of key events from the US and Swiss dockets. Meanwhile, the decline of the US Dollar (USD) weighs on the pair. At press time, USD/CHF is trading at 0.8798, adding 0.02% on the day. 

    Several Federal Reserve (Fed) officials expressed concern that strong growth in spending and hiring could disrupt that progress to bring inflation down to the 2% target. The FOMC meeting minutes last week indicated that the central bank was also worried about moving too fast to cut their benchmark interest rate and preferred to wait for additional evidence of inflation data before making the decision on easing policy. Investors will take more cues from the Core Personal Consumption Expenditures Price Index (Core PCE), the Fed's preferred inflation gauge, due on Thursday. The stronger-than-expected data might support the case for keeping the rate high for longer and this might lift the US Dollar (USD). 

    On the Swiss front, Swiss National Bank (SNB) President Thomas Jordan said that while inflation wouldn’t exceed the central bank’s target between 0 and 2%, he still sees it approaching the range’s ceiling. The markets expect the SNB to begin rate cuts in September, even though the recent Swiss inflation data might speed up that schedule. 

    Apart from this, Yemen’s Iranian-backed Houthi movement has attacked merchant ships for months, proclaiming solidarity with Palestinians as Israel wages war against Hamas in the Gaza Strip. That being said, the escalating geopolitical tensions in the Middle East might boost the traditional safe-haven currency like the Swiss Franc (CHF).

    Looking ahead, the release of the US Gross Domestic Product (GDP) for Q4 will be the highlight on Wednesday. On Thursday, the attention will shift to the Swiss Q4 GDP growth numbers and the US Core PCE. These events could give a clear direction to the USD/CHF pair. 



     

  • 26.02.2024 05:39
    USD/CHF consolidates above 0.8800, focus on US, Swiss GDP data
    • USD/CHF oscillates in a narrow range of 0.8800-0.8825 in Monday’s early European session. 
    • The upbeat US inflation data and hawkish comments from Fed officials prompted markets to lower bets on rate cuts this year. 
    • The rising geopolitical tension in the Red Sea might lift a safe-haven currency like the Swiss Franc (CHF). 

    The USD/CHF pair trades sideways above the 0.8800 mark during the early European session. The US and Swiss Gross Domestic Product (GDP) for the fourth quarter (Q4) could provide a clear direction to the pair. The annualized US GDP growth number is estimated to remain steady at 3.3%. USD/CHF currently trades around 0.8811, unchanged for the day. 

    The US inflation data in January and the cautious comments from Federal Reserve (Fed) officials have prompted markets to pull back expectations on rate cuts. Investors expect three interest rate cuts for 2024, down from six cuts anticipated in December. 

    Investors will closely watch the US Personal Consumption Expenditures Price Index (Core PCE), the Fed’s preferred inflation measure, due on Thursday. The report could offer some hints as to whether inflation is easing or elevated. The stronger data might lift the Greenback against its rivals. 

    The United States and Britain hit 18 Houthi targets in Yemen, responding to a recent rise in attacks on ships in the Red Sea and Gulf of Aden by the Iran-backed militia group, including a missile strike this week that set fire to a cargo tanker. The rising geopolitical tension in the Red Sea might boost a safe-haven currency like the Swiss Franc (CHF) and act as a headwind for the USD/CHF pair.

    Looking ahead, the US Durable Goods Orders and Consumer Confidence will be due on Tuesday. On Wednesday, the US GDP growth numbers for Q4 will be released. The Swiss GDP report and the US Q4 Core Personal Consumption Expenditures Price Index (Core PCE) on Thursday will be the highlights this week. 


     

1 / 5

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location