The USD/CHF pair is struggling to make headway around the 0.8830 level, moving lower from its earlier position near 0.8900 during Monday’s early European trading hours. This slight decline is attributed to a weaker US Dollar and lower US Treasury bond yields. Traders are now awaiting the release of Switzerland’s February Consumer Price Index (CPI) for potential market-moving insights. Analysts anticipate a drop in the CPI from 1.3% in January to 1.1% in February.
Last Friday, the Institute for Supply Management (ISM) reported a decline in the US Manufacturing Purchasing Managers Index (PMI) to 47.8 in February, below expectations of 49.5. This weaker-than-expected data has contributed to the pressure on the USD.
Comments from Federal Reserve officials, including Susan Collins, John Williams, and Raphael Bostic, suggest that a rate cut may be on the horizon later this year if economic conditions warrant it. Investors are eagerly awaiting Federal Reserve Chair Jerome Powell’s testimony on Wednesday for further insights into inflation and monetary policy, which could impact the direction of the USD/CHF pair.
Meanwhile, in Switzerland, January’s unexpected drop in the annual inflation rate may prompt the Swiss National Bank (SNB) to consider rate cuts at its upcoming March meeting. The release of Switzerland’s Consumer Price Index (CPI) for February later on Monday will be closely watched for any indications of future monetary policy actions, potentially influencing the USD/CHF pair.
USD/CHF
OVERVIEW | |
---|---|
Today last price | 0.8834 |
Today Daily Change | 0.0001 |
Today Daily Change % | 0.01 |
Today daily open | 0.8833 |
TRENDS | |
---|---|
Daily SMA20 | 0.8791 |
Daily SMA50 | 0.8656 |
Daily SMA100 | 0.8757 |
Daily SMA200 | 0.8832 |
LEVELS | |
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Previous Daily High | 0.8893 |
Previous Daily Low | 0.883 |
Previous Weekly High | 0.8893 |
Previous Weekly Low | 0.8779 |
Previous Monthly High | 0.8886 |
Previous Monthly Low | 0.8553 |
Daily Fibonacci 38.2% | 0.8854 |
Daily Fibonacci 61.8% | 0.8869 |
Daily Pivot Point S1 | 0.8811 |
Daily Pivot Point S2 | 0.8789 |
Daily Pivot Point S3 | 0.8748 |
Daily Pivot Point R1 | 0.8874 |
Daily Pivot Point R2 | 0.8915 |
Daily Pivot Point R3 | 0.8936 |