USD/CHF stays pressured towards 0.9000 as US dollar eases despite debt ceiling deal, Swiss GDP, US NFP eyed – by anilpanchal7 USDCHF RiskAversion Fed GDP NFP
Index retreats from the highest levels in 10 weeks as the US policymakers unveil initial agreement on the measures to avoid the ‘catastrophic’ default. It’s worth noting, however, that some among the Republicans and Democrats are against the deal and hence signal a bumpy road through Congress even as the June 05 default looms, which in turn puts a floor under the US Dollar and prods the USD/CHF bears.
Not only the mixed concerns on the US debt limited agreement but hawkish concerns about the Federal Reserve’s next move, backed by the upbeat US data, also underpin the bullish bias surrounding the Swiss Franc pair. During the last week, US PMIs, the second estimate of the first quarter 2023 Gross Domestic Product , Durable Goods Orders and the Core Personal Consumption Expenditure Price Index for the said month, also known as the Fed’s preferred inflation gauge, marked upbeat details in their latest readings.
On a different page, the S&P500 Futures print mild gains and cut the US Dollar’s haven demand while the yields are less active amid off in bond markets in the US. Looking ahead, risk catalysts may entertain the USD/CHF traders ahead of the Swiss Q1 GDP and the US Nonfarm Payrolls , scheduled for publishing on Tuesday and Friday. Above all, major attention will be given to the US Congress voting on the debt ceiling deal.sellers need validation from a three-week-old ascending support line, close to 0.9030 at the latest.
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 Price Analysis: Expect a rally above 0.9070 as Fed to raise rates furtherThe USD/CHF pair has attempted a recovery move after building a base around 0.9050 in the early Toyo session. The Swiss Franc asset has been supported
Read more »
US debt deal passage in Congress would trim 2024 GDP by just 0.1% – Goldman SachsEconomists at Goldman Sachs believe that “if the deal passes Congress by June 5, which means the US avoids a default, the reduction in federal spendin
Read more »
Major central banks were expected to pause rate hikes soon. Now it's not so clear cutStronger-than-expected U.S. jobs figures and GDP data have highlighted a key risk to the Federal Reserve potentially taking its foot off the monetary brake.
Read more »
Volvo wins record order for electric trucks from HolcimVolvo Group said on Monday its unit Volvo Trucks plans to sell 1,000 electric trucks to Swiss building solutions provider Holcim for delivery over the next seven years, the biggest order ever for Volvo electric trucks.
Read more »
CCS softball playoffs: Live Oak stays in ‘a groove,’ captures Division IV titleCCS Division IV softball championship: Live Oak shut out Pacific Grove , Notre Dame-Belmont falls to North Salinas in Division V
Read more »
25 cities where rent is falling while inflation stays high: reportStubbornly high inflation is leading to record rent growth — but these 25 cities are more affordable than they were last year
Read more »