Market news
07.05.2024, 07:57

USD/CHF holds a position above 0.9050 amid firmer US Dollar

  • USD/CHF maintains its position amid an upward correction in the US Dollar.
  • The recent lower US labor data has revived hopes for rate cuts by the Fed in 2024.
  • The Swiss Unemployment Rate (MoM) was recorded at a non-seasonally adjusted 2.3% in April, from 2.4% prior.

USD/CHF treads water to hold position, hovering around 0.9060 during the early European hours. The upward correction in the US Dollar (USD) provides support for the USD/CHF pair. However, The Greenback could face resistance due to investors’ optimism following the softer US labor data on Friday. This development has reignited hopes for potential interest rate cuts by the Federal Reserve (Fed) in 2024.

The US Dollar Index (DXY), which gauges the performance of the US Dollar (USD) against six major currencies, trades higher around 105.20. The weaker US Treasury yields contribute to limiting the advance of the US Dollar. 2-year and 10-year yields on US Treasury bonds stand at 4.80% and 4.45%, respectively, by the press time.

On the Swiss side, the Unemployment Rate (MoM) stood at a non-seasonally adjusted 2.3% in April, slightly decreasing from 2.4% prior. The number of unemployed individuals decreased by 1,636 compared to the previous month, totaling 106,957. When adjusted for seasonal factors, the jobless rate remained steady at 2.3% in April.

According to Reuters, Swiss National Bank (SNB) Chairman Thomas Jordan discussed exploring the optimal method for digitally tokenizing financial assets to enhance the security and efficiency of payments during an event in Basel on Monday. Jordan refrained from providing indications regarding economic and monetary policy during his speech.

USD/CHF

Overview
Today last price 0.9062
Today Daily Change -0.0001
Today Daily Change % -0.01
Today daily open 0.9063
 
Trends
Daily SMA20 0.9116
Daily SMA50 0.8991
Daily SMA100 0.8815
Daily SMA200 0.886
 
Levels
Previous Daily High 0.9066
Previous Daily Low 0.9036
Previous Weekly High 0.9225
Previous Weekly Low 0.9006
Previous Monthly High 0.9195
Previous Monthly Low 0.8998
Daily Fibonacci 38.2% 0.9055
Daily Fibonacci 61.8% 0.9048
Daily Pivot Point S1 0.9044
Daily Pivot Point S2 0.9025
Daily Pivot Point S3 0.9013
Daily Pivot Point R1 0.9075
Daily Pivot Point R2 0.9086
Daily Pivot Point R3 0.9105

 

 

© 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