USD/CHF retreats towards 0.9100 amid dicey markets, focus on yields, US Retail Sales – by anilpanchal7 USDCHF RiskAppetite YieldCurve Inflation Fed
Recently increasing calls of the Fed’s 0.25% rate hike, versus fears of no move due to the challenges for the US banks emanating from the fallouts of the Silicon Valley Bank and Signature Bank, seem to underpin the US Dollar’s run-up even as the inflation data eased. Also supporting the greenback could be the latest recovery in the US Treasury bond yields.
That said, US Dollar Index picks up bids bid to refresh the intraday high near 103.75 during the two-day rebound from a one-month low. It should be noted that the US 10-year Treasury bond yields grind near 3.68% by the press time, after posting the biggest daily gain in five weeks the previous day, while the two-year bond coupons extend the previous day’s recovery from the six-month low to 4.31% at the latest. and CPI ex Food and Energy both matched 6.0% and 5.5% YoY market forecasts, versus 6.
Elsewhere, Swiss Producer and Import Prices eased in February to -0.2% MoM versus -0.1% expected and 0.7% prior. While talking about the SVB risk, US Senate Banking Committee Chairman Sherrod Brown and Federal Reserve Governor Michelle Bowman ruled out chatters suggesting the grim conditions of the US banking industry.
Hence, the market’s indecision challenges the USD/CHF buyers even as the US Dollar manages to defend the previous day’s gains ahead of the key US data. That said, today’s US Retail Sales for February, expected -0.3% MoM versus 3.0% prior, will be important to watch as the hawkish bets on the Federal Reserve’s 25 basis points rate hike in the next week’s Federal Open Market Committee improve lately.USD/CHF is likely to refresh 2023 low, currently near 0.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CHF looks capped below 0.9150 as US Inflation worries fade, US Retail Sales eyedThe USD/CHF pair is juggling in a narrow range below 0.9150 in the early Asian session. The upside in the Swiss Franc asset looks capped as the United
Read more »
USD/CHF Price Analysis: Bears run out of steam around 0.9200USD/CHF bears struggle to keep the reins around a one-month low as it pares intraday losses near 0.9200 during early Monday. Even so, the Swiss Franc
Read more »
USD/CHF finds cushion around 0.9100 as focus shifts to US InflationThe USD/CHF pair has sensed an intermediate cushion near the round-level support of 0.9100 in the early Asian session. The Swiss franc asset is gather
Read more »
USD/CHF Price Analysis: Bulls showing their cards for a significant correctionUSD/CHF is attempting to recover from the lows of 0.9108 with highs of 0.9135 in sight while being 0.14% up on the day so far. As illustrated in the f
Read more »
USD/CHF struggles near 0.9100 mark, stronger USD lends support ahead of US CPIThe USD/CHF pair attracts fresh selling following an early uptick to the 0.9145 region on Tuesday and remains on the defensive through the mid-Europea
Read more »
USD/CHF and USD/JPY pops will inevitably be faded – TDSUS inflation remains stubbornly high. With core prices rising at an accelerated pace of 0.5% in February, terminal pricing has moved higher. The repri
Read more »