SniperFx

Archives

  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • August 2022
  • January 2022
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Bonds
  • Brokers News
  • Crypto
  • Forex
  • Forex Trading
  • News
  • Stocks
  • Technology
  • World
Subscribe
SniperFx SniperFx
SniperFx
  • Latest Updates
  • Bonds
  • Brokers News
  • Crypto
  • Forex
  • Forex Trading
  • Stocks
  • World
  • Forex Trading

EURCHF turns negative and retreats from tops near 1.0000 post-SNB

  • March 23, 2023
  • EUR/CHF abandons the area of 3-week highs near 1.0000.
  • The SNB hiked rates by 50 bps, matching consensus.
  • The SNB leaves the door open to extra hikes in the near future.

The Swiss franc regains traction and drags EUR/CHF to the 0.9930 region in the wake of the SNB interest rate decision on Thursday.

EUR/CHF: Gains look limited near 1.0000

EUR/CHF comes under pressure and retreats from earlier 3-week highs in levels just shy of the parity following the 50 bps rate hike by the SNB at its meeting on Thursday.

The central bank revised up its inflation projections and now sees consumer prices rising 2.6% this year and 2.0% in 2024 vs. previous forecasts at 2.4% and 1.8%, respectively.

Regarding the GDP, the SNB suggests the economic growth is likely to remain modest for the remainder of the year and the economy is seen expanding 1.0% in 2023 (vs. the December forecast at 0.5%).

The SNB also hinted at the view that inflation could return yo more moderate levels over the medium term in response to the current monetary policy stance and the slower pace of the economic activity.

EUR/CHF significant levels

As of writing the cross is losing 0.02% at 0.9950 and the breach of 0.9836 (200-day SMA) would expose 0.9705 (2023 low March 15) and then 0.9643 (weekly low October 12 2022). On the flip side, the next resistance appears at 0.997 (weekly high March 23) seconded by 1.0041 (monthly high March 2) and finally 1.0097 (2023 high January 13).

admin

Previous Article
  • Forex

GBPUSD A test of 1.25 in the coming days is looking quite likely – ING

  • March 23, 2023
Read More
Next Article
  • News

BTCUSDT 1DChart – Fundamental analysis

  • March 23, 2023
Read More
You May Also Like
Read More
  • Forex Trading

The USD/THB faces some side-line trading in the near term (UOB).

  • admin
  • September 26, 2023
Read More
  • Forex Trading

Gold Price Forecast: XAU/USD shines as US yields drop amid an upbeat market mood

  • admin
  • September 23, 2023
Read More
  • Forex Trading

EUR/NOK needs US data to turn to move back down – ING

  • admin
  • September 21, 2023
Read More
  • Forex Trading

Ahead of the Fed speakers, the EUR/USD declines again towards 1.0700 as the ECB blackout starts.

  • admin
  • September 7, 2023
Read More
  • Forex Trading

USDIDR Price News Rupiah drops to 15,100 on softer Indonesia Inflation, upbeat US Dollar

  • admin
  • August 1, 2023
Read More
  • Forex Trading

NZDUSD Price Analysis Kiwi rebound needs acceptance from 0.6220 and NZUS employment

  • admin
  • July 31, 2023
Read More
  • Forex Trading

EURDKK to keep inching higher and round up to 7.46 around the turn of the year – ING

  • admin
  • July 27, 2023
Read More
  • Forex Trading

USD/CHF Price Analysis: Sticks to modest gains, lacks follow-through ahead of FOMC

  • admin
  • July 26, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts
  • Eicher Motors shares surged following Jefferies’ bullish outlook and upgraded target price.
  • The USD/THB faces some side-line trading in the near term (UOB).
  • The euro extends its decline to fresh six-month lows near 1.0570
  • Bitcoin miners strategize for survival amid rising costs and upcoming halving
  • Awareness of non-banks as an option is on the rise.
SniperFx
  • Home
  • About Us
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
Forex & Crypto Updates

Input your search keywords and press Enter.