

Market Analysis
The USD/CHF pair weakened to around 0.8925 during early Asian trading hours on Tuesday, driven by a broadly weaker US Dollar (USD). Investors are closely watching the Swiss National Bank's (SNB) Quarterly Bulletin for Q2, which will be released on Wednesday. Key US economic data this week includes the final Q1 Gross Domestic Product (GDP) reading on Thursday and the May Personal Consumption Expenditure (PCE) Price Index on Friday.
US Federal Reserve (Fed) officials remain cautious about reducing interest rates, emphasizing that their decisions will be data-driven. On Monday, San Francisco Fed President Mary Daly remarked that the Fed must continue its efforts to restore price stability without causing significant economic disruption. Daly acknowledged that while the central bank has more work to do to control inflation, it is not the only risk they face.
According to the CME FedWatch Tool, traders are now pricing in nearly a 66% chance of a Fed rate cut in September, up from 59.5% at the end of last week. Speeches from Fed officials Lisa Cook and Michelle Bowman later on Tuesday may provide further insights into the interest rate outlook for this year. Hawkish remarks from Fed policymakers could support the Greenback and limit the downside for USD/CHF.
Conversely, ongoing geopolitical tensions in the Middle East and Ukraine may boost safe-haven flows, benefiting the Swiss Franc (CHF). Israeli Prime Minister Benjamin Netanyahu indicated that the most intense phase of the attack against Hamas in Gaza is nearing its end while emphasizing that the broader conflict with Hamas continues, according to CNN. Additionally, Russia condemned the US for a "barbaric" missile strike in Crimea, which used US-supplied missiles, resulting in at least four deaths, including children, and injuring 151 others.
USDCHF
OVERVIEW | |
---|---|
Today last price | 0.8923 |
Today Daily Change | -0.0006 |
Today Daily Change % | -0.07 |
Today daily open | 0.8929 |
TRENDS | |
---|---|
Daily SMA20 | 0.8953 |
Daily SMA50 | 0.9045 |
Daily SMA100 | 0.8969 |
Daily SMA200 | 0.8892 |
LEVELS | |
---|---|
Previous Daily High | 0.8944 |
Previous Daily Low | 0.8922 |
Previous Weekly High | 0.8945 |
Previous Weekly Low | 0.8827 |
Previous Monthly High | 0.9225 |
Previous Monthly Low | 0.8988 |
Daily Fibonacci 38.2% | 0.893 |
Daily Fibonacci 61.8% | 0.8936 |
Daily Pivot Point S1 | 0.8919 |
Daily Pivot Point S2 | 0.8909 |
Daily Pivot Point S3 | 0.8896 |
Daily Pivot Point R1 | 0.8942 |
Daily Pivot Point R2 | 0.8954 |
Daily Pivot Point R3 | 0.8964 |
Paraphrasing text from "FX Street" all rights reserved by the original author.